Gibson Dunn Advised PAG in the Formation of One of Asia’s Largest Private Debt Funds

December 19, 2022

Gibson Dunn advised PAG, a leading investment firm focused on the Asia-Pacific region, on the formation of PAG Loan Fund V, its fifth pan-Asia direct lending fund, at its hard cap of US$2.6 billion in capital commitments. PAG Loan Fund V is reported to be the largest direct lending fund raised in the Asia-Pacific region to date. Capital commitments came from over 20 institutional investors from North America, Europe, Middle East and Asia, including sovereign wealth funds, pension funds and endowments.

The Gibson Dunn team was led by Albert Cho and included Kathy Wen and Keira Su.

Daniel Zygielbaum, Hans Martin Schmid, Blake Hoerster and Annie Lin advised on tax aspects.