The art and science of making PE investments during crisis times

With Weijian Shan, Group Chairman and Chief Executive Officer, PAG

Despite regulatory crackdown on several fast-growing sectors and the continued Sino-US trade tensions, China continues to see growth in investments, private equity fundraising and expansion in deal sizes as global institutional investors bat for long-term macro factors. China is projected to contribute up to 25% of global GDP growth from now until 2024. Will LPs accordingly allocate capital to funds targeting the Middle Kingdom? Will we continue to see PE fundraising in China largely concentrated on the biggest funds? Shan will share his insights on how the PE industry views the latest developments in the technology space in China, particularly on on the regulatory front, as well as his reading of the US-China relations under the Biden administration so far, in addition to other geopolitical developments.

The author of Money Games and Out of the Gobi, Shan had established PAG’s PE branch in 2010 after his previous stints leading deals at TPG and Newbridge Capital. The team has raised four vehicles to date, including PAG Growth Fund I and three buyout-focused pan-Asia funds: PAG Asia I (closed in 2012 at $2.5 billion), PAG Asia II (closed in 2016 at $3.6 billion), and PAG Asia III (closed in 2018 at $6 billion). PAG is currently in the market to raise its fifth direct lending fund for the region.