Singapore-based Timothy Zee leaves PAG

Zee joined at the end of 2011, not long after Weijian Shan – formerly of Newbridge Capital and TPG Capital – established PAG's private equity operation. Prior to that, he worked in direct investment, structured finance, and investment banking for Barclays Capital, Salomon Smith Barney, GE Capital, and Bank of America.

Zee said in an email that he will remain involved with PAG as an advisor. He also plans to launch his own private investment firm – and the first commitment will be to PAG's fourth flagship private equity fund, which is currently in the market with a target of USD 9bn. PAG declined to comment on personnel matters.

Reflecting on his career high points, Zee singled out buyouts of The Cheesecake Shop and Craveable Brands, which helped establish PAG in Australia. "It has all been very rewarding and exciting, especially to have invested in steady, stable and cash flow generative businesses," he said.

PAG bought The Cheesecake Shop, a specialist cake retail franchise, from its family owners in 2017 and exited to local investment firm River Capital earlier this year. Craveable, operator of quick-service restaurant chains Oporto, Red Rooster, and Chicken Treat, was acquired from Archer Capital in 2019.

PAG, which has more than USD 50bn in assets under management, including USD 16.9bn in private equity, filed for a Hong Kong IPO in March.

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