PAG is a leading alternative investment management firm based in Hong-Kong with $16 billion of equity under management across private equity, real estate and absolute return strategies. PAG was raising $1.3 billion for its first core-plus regional fund.
"After the built-up of an attractive position in the Australian logistics sector earlier this year, Allianz Real Estate is accelerating the momentum of its investments in Asia" said Olivier Téran, CIO of Allianz Real Estate. "With 50% of the fund nearly invested and a proven track-record, PREP is a strong proposal to access core markets in Asia such as Japan, China, Australia, Korea and Hong-Kong", he added.
The investment will be managed out of Allianz Real Estate´s Singapore office.