At a mooted $15 bln, Blackstone-backed PAG would be valued at 30% of managed assets. It's on par with recent deals involving Asian rivals. The test is if public-market investors assess the growth and mix the same way, says JennHughes13
Asia-focused private equity firm PAG submitted a prospectus for an initial public offering to the Hong Kong stock exchange on March 25. About two-thirds of its $47 billion under management is devoted to property-related and credit and markets investments.
The 12-year-old firm is looking to raise up to $2 billion at a valuation of between $10 billion and $15 billion, according to markets publication IFR.MBK Partners agreed to sell a roughly 13% stake to Dyal Capital Partners for about $1 billion, according to media reports on Jan. 12.A flag bearing the logo of the Hong Kong Exchanges and Clearing Limited flies in Hong Kong, China January 24, 2018.
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