Kirkland & Ellis and offshore law firm Travers Thorp Alberga have advised Hong Kong-based investment firm PAG on the closing of its third Asia-focused buyout fund with $6 billion in committed capital.

According to Reuters, the fund, which opened in June, is the firm’s largest to date. It raised $3.6 billion with its second Asian fund in 2016.

PAG, one of Asia’s largest independent alternative investment fund managers, was founded in 2002 by Weijian Shan, a Chinese dealmaker. It now manages $30 billion in capital, investing in major markets in Asia with a focus on buyout deals.

The Kirkland team was led by investment funds partners Carol Liu, Justin Dolling, Jennifer Feng, Josh Westerholm and Michael Chu, regulatory partner Sarah Thompson, tax partner Marguerite Lombardo, and employee benefits partner Elizabeth Dyer.


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