Shan Weijian, the former TPG executive who now leads private equity firm PAG, has raised $3.6bn for his second Asian buyout fund, joining the fundraising rush in the region.
The fundraising comes at a time when there are conflicting trends about the extent to which there is a credit crunch in Asia.
Many private equity firms expect banks in the region to curb lending as corporate borrowers struggle. Executives at many investment groups hope that if the banks retreat, it will leave a gap that their capital can fill.
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