Simpson Thacher advised PAG Real Assets in connection with the formation and fundraising of SCREP VIII, its flagship opportunistic real estate fund. With capital commitments (including co-investment capital) totaling $4 billion, the fund exceeded its target of $3.5 billion and represents a significant increase compared to the prior fund which closed on $2.75 billion. Simpson Thacher also represented PAG on the prior fund. The fund will focus on opportunistic investments in real assets primarily in Japan, South Korea, Australia, New Zealand and Singapore.
PAG is one of Asia’s largest independent alternative investment managers with over $55 billion of equity under management across three key strategies: Private Equity, Credit & Markets and Real Assets.
The Simpson Thacher team included Adam Furber, Michael Ceulen, David Azcue, Jingyi Wang, Haozhou Qiu, Jean-Baptiste Rioual, Lois Zhang and Zhong Shi (Asia - Private Funds); Nancy Mehlman, Brian Mendick and Preston Irace (Tax); Jeanne Annarumma (ERISA); Owen Lysak, Matt Feehily, Matthew Mears and Seungyeon Anderson (EU and U.K. Funds Regulatory).