PAG’s High-Stakes Play in China’s Distressed Malls: Risky Move, Big Upside

PAG has doubled down on China’s distressed commercial real estat...

Starting from a $2.8 billion minority stake in 2021, PAG led an $8...

In 2025, PAG spearheaded a roughly 45 billion yuan structured fund...

The bet depends on a slow recovery in Chinese consumption and resi...