PAG COO David Kim retires
David Kim, a partner and COO of PAG’s private equity division, has retired from the firm after 13 years.
Kim, who has been based in Hong Kong for about 30 years, plans to spend most of his time in Korea and Hawaii, according to a source close to the situation. Prior to joining PAG in 2010, Kim led the Asia financial institutions group at Lehman Brothers and Nomura.
PAG is in the market raising its fourth pan-Asian buyout fund. The vehicle launched in late 2021 with a target of USD 9bn but this has since been reduced to USD 6bn. A US regulatory filing from March stated that USD 2.2bn had been raised. These filings do not necessarily reflect the full extent of a fundraise.
The firm is exploring the possibility of a GP-led tender offer to LPs in its three existing funds as a means of generating liquidity for investors, according to multiple sources familiar with the situation.
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