PAG Seeks More Money for $1 Billion Hedge Fund as Markets Swing

Asia alternative asset manager PAG is seeking an additional $250 million for a hedge fund that generated double-digit returns during the market volatility of the past two years, said people with knowledge of the matter.

The amount would boost total assets of the multistrategy hedge fund to $1.25 billion, the people said, asking not to be identified because the information is confidential. Led by Chris Arcoumanis in Hong Kong, the fund returned an annualized 15.5% from its February 2020 inception to the end of January, they added. It had only one loss-making month since it started, said one of the ...