April 13, 2018 / 6:54 AM / 9 months ago

HK-based PAG plans to raise as much as $6 bln with new Asia PE fund -sources

HONG KONG, April 13 (Reuters) - Hong Kong-based PAG is planning a new Asia private equity fund, adding to a massive pool of private equity money readied for acquisitions in the region, six people with knowledge of the plan told Reuters.

PAG aims to raise as much as $6 billion with the new fund, its third and its largest to date, two of the people said. The firm raised $3.6 billion with its second Asian fund in 2016.

PAG has not yet formalised the fund size or the fundraising schedule, they said, adding that the plan is subject to change.

A spokesman for PAG said the information is incorrect but declined to comment further. The people declined to be identified as the fundraising plan was confidential. (Reporting by Kane Wu; Editing by Sumeet Chatterjee and Edwina Gibbs)

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