Blackstone acquires minority stake in PAG

Blackstone Group’s Strategic Capital Holdings Fund has acquired a passive minority stake in PAG.

Terms of the deal were not disclosed.

PAG, which invests in private equity, closed its Secured Capital Real Estate Partners VI with $1.9 billion in investor commitments in September 2017. The fund will focus on distressed debt and property investments in Japan, as well as opportunistic real estate in China, Korea and other selected markets.

PAG Real Estate is the real estate investment and asset management arm of PAG. It has invested a total of more than $25 billion through a series of funds into more than 6,700 properties across Asia.