DFX Intelligence
Real Estate Fund Intelligence
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What capital do they manage?
- Real estate GAV
- $3.1B GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 7 current, 22 ever, 15 dropped0 feeders, 0 funds of funds
- First on the tape
- 2012the extract starts in 2011; an earlier history is not visible
- Latest filing
- Aug 30, 2024exempt reporting adviser
- Fund types on the latest filing
- Hedge Fund 4, Real Estate Fund 8, Private Equity Fund 20
- Latest vintage
- 2024from a fund name year or the first ADV report after the adviser's first filing
What do they say they do?
confirmed
- Strategy
- Opportunistic
- Operator model
- Hybridbasis: stated
- Property types
- Office, Industrial, Multifamily, Retailbasis: stated
- Markets
- Asia-Pacific, Japan, China, Hong Kong, Singapore, Australia, Koreabasis: stated
- Business kind (site)
- OTHER
- AUM in its own words
- ••• Lockedthe manager's statement, not a DFX figure
In the manager’s own words
- Opportunistic: “Seeking out mispricing opportunities to deliver value in Asia-Pacific markets”
- Core plus: “Our PREP series of funds focuses on core-plus/value-add investment targeting mispriced, high-quality, well-located buildings with asset management upside including office, industrial logistics, multifamily, and retail in key APAC gateway cities.”
- Value add: “Our PREP series of funds focuses on core-plus/value-add investment targeting mispriced, high-quality, well-located buildings with asset management upside including office, industrial logistics, multifamily, and retail in key APAC gateway cities.”
- Distressed: “The SCREP series focuses on opportunistic real estate investments in hard assets as well as corporate M&A restructuring and distressed debt across sectors in mature APAC markets.”
- Debt: “PAG named Real Estate Debt Manager of the Year 2025 for Asia Pacific”
- Office: “including office, industrial logistics, multifamily, and retail in key APAC gateway cities”
- Industrial: “including office, industrial logistics, multifamily, and retail in key APAC gateway cities”
- Multifamily: “including office, industrial logistics, multifamily, and retail in key APAC gateway cities”
- Retail: “including office, industrial logistics, multifamily, and retail in key APAC gateway cities”
- Asia-Pacific: “PAG is a leading alternative investment firm focused on APAC with principal offices in Tokyo, Hong Kong and Singapore.”
- Japan: “Our network includes on-the-ground expertise in Japan, China, Hong Kong, Singapore, Australia and Korea.”
- China: “Our network includes on-the-ground expertise in Japan, China, Hong Kong, Singapore, Australia and Korea.”
- Hong Kong: “Our network includes on-the-ground expertise in Japan, China, Hong Kong, Singapore, Australia and Korea.”
- Singapore: “Our network includes on-the-ground expertise in Japan, China, Hong Kong, Singapore, Australia and Korea.”
- Australia: “Our network includes on-the-ground expertise in Japan, China, Hong Kong, Singapore, Australia and Korea.”
- Korea: “Our network includes on-the-ground expertise in Japan, China, Hong Kong, Singapore, Australia and Korea.”
Vehicles
22 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|---|
| P•• R••• E••••• P••••••• I• L••• 805-2439789891 | fund | $1.2B GAV 2024 | 18 | 2019 to 2024 | 2019 | Harvesting | Opportunistic | ||
| S•••• V••• L••• 805-9431527875 | master | $1.0B GAV 2024 | 26 | 2021 to 2024 | 2021 | Investing | |||
| P•• R••• E••••• P••••••• I•• L••• 805-3054327093 | fund | $372M GAV 2024 | 15 | 2023 to 2024 | 2023 | Deploying | Opportunistic | ||
| S•••• V•• L••• 805-8710380629 | master | $355M GAV 2024 | 23 | 2017 to 2024 | 2017 | Harvesting | |||
| P•• R•• I• L••• 805-4474854466 | master | $97M GAV 2024 | 3 | 2024 to 2024 | 2024 | Unknown | |||
| S•••••• C•••••• R••• E••••• P••••••• V• L••• 805-1623210244 | master | $39M GAV 2024 | 8 | 2013 to 2024 | 2013 | Winding down | Opportunistic | ||
| S•••• V•••• L••• 805-3433016575 | master | $2M GAV 2024 | 21 | 2024 to 2024 | 2024 | Unknown |
15 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|---|
| S•••• V• I••••••••• C• L••• 805-4730050568, dropped 2018 | master | $385M GAV 2017 | 1 | 2017 to 2017 | 2017 | Dropped from ADV | |||
| S•••• V• I••••••••• G• L••• 805-7704175102, dropped 2018 | master | $385M GAV 2017 | 1 | 2017 to 2017 | 2017 | Dropped from ADV | |||
| P•• R••• E••••• P••••••• ••••••••• S•••• 805-9778932366, dropped 2019 | fund | $301M GAV 2018 | 3 | 2016 to 2018 | 2016 | Dropped from ADV | |||
| S•••• V• J•••• I••••••••• G• L••• 805-6738966513, dropped 2018 | master | $188M GAV 2017 | 1 | 2014 to 2017 | 2014 | Dropped from ADV | |||
| S•••• V• J•••• I••••••••• L••• 805-6166769864, dropped 2018 | master | $183M GAV 2017 | 1 | 2014 to 2017 | 2014 | Dropped from ADV | |||
| P•••••• A••••••• C•••• L••• L•••••• 805-4960005455, dropped 2018 | fund | $177M GAV 2017 | 4 | 2012* to 2017 | unknown | Dropped from ADV | Land | ||
| P•• R••• E••••• P••••••• L••• 805-4868623439, dropped 2018 | fund | $54M GAV 2024 | 9 | 2015 to 2024 | 2015 | Dropped from ADV | |||
| S•••• V• J••••• L••• 805-5375921611, dropped 2018 | master | $30M GAV 2017 | 1 | 2017 to 2017 | 2017 | Dropped from ADV | |||
| S••••• I• F•••• L••• 805-5489340766, dropped 2018 | master | $10M GAV 2017 | 20 | 2012* to 2017 | unknown | Dropped from ADV | |||
| S•••••• C•••••• R••• E••••• P••••••• I•• L••• 805-5363403453, dropped 2017 | fund | $4M GAV 2016 | 5 | 2012* to 2016 | unknown | Dropped from ADV | Opportunistic | ||
| P••• I• L•••••• 805-4279809286, dropped 2020 | fund | $1M GAV 2019 | 29 | 2012* to 2019 | unknown | Dropped from ADV | |||
| S•••••• C•••••• J•••• R••• E••••• P••••••• I• L••• 805-4346249244, dropped 2013 | fund | $565,058 GAV 2012 | 5 | 2012* to 2012 | unknown | Dropped from ADV | Opportunistic | ||
| S••••• I• L••• F•••• L••• 805-5489458790, dropped 2017 | fund | $431,267 GAV 2016 | 13 | 2012* to 2016 | unknown | Dropped from ADV | Debt | ||
| S•••• V• J••••• L••• 805-8645772056, dropped 2018 | master | $280,128 GAV 2022 | 19 | 2014 to 2022 | 2014 | Dropped from ADV | |||
| S•••••• C•••••• J•••• R••• E••••• P••••••• A••• L••• 805-7005192118, dropped 2020 | fund | $0 GAV 2019 | 19 | 2012* to 2019 | unknown | Dropped from ADV |
What do they actually own?
0 trusted of 0 candidate bindings
No validated holdings yet. Candidate bindings stay off this page until their rule passes the blind-label gate.
What are they buying, selling and financing?
0 acquisitions, 0 sales, 0 financings in 12 months
No attributed events yet. An event reaches this page only through a validated holding binding.
Who finances them?
0 loans, 0 lender groups
No recorded loans through trusted holdings.
Who backs them?
0 allocators, 0 rows
No institutional LP disclosure resolved to this manager.
People
Form ADV Schedule A, latest filing
- W•••••• S••• Director 07/2010 And Chairman 10/2010 And Shareholder 03/2011 (Pag) since 2010-07 also on pe
- C••••••••• M••••• G••••• Director (Pag) since 2010-07 also on pe
- J•• P••• T•••••• Director (Pag) since 2010-12 also on pe
- K•••• Y•• L••• C••• Group Head Of Compliance (Pag) since 2017-01 also on pe
- D•••• R•• C•••• Shareholder since 2022-12 also on pe
- T•••••• M••••••• G•••••• Group General Counsel (Pag) since 2024-04 also on pe
What is changing?
- Vehicle first reported Aug 30, 2024 (observed) S•••• V•••• L••• first reported on Form ADV by Pag, GAV $1,569,935
- Vehicle first reported Mar 25, 2024 (observed) P•• R•• I• L••• first reported on Form ADV by Pag, GAV $96,641,312
- Vehicle first reported Mar 30, 2023 (observed) P•• R••• E••••• P••••••• I•• L••• first reported on Form ADV by Pag, GAV $215,243,652
- Vehicle first reported Mar 31, 2021 (observed) S•••• V••• L••• first reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 16, 2020 (observed) P••• I• L•••••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 16, 2020 (observed) S•••••• C•••••• J•••• R••• E••••• P••••••• A••• L••• no longer reported on Form ADV by Pag
- Vehicle first reported Mar 29, 2019 (observed) P•• R••• E••••• P••••••• I• L••• first reported on Form ADV by Pag, GAV $126,580,578
- Vehicle dropped from ADV Mar 18, 2019 (observed) P•• R••• E••••• P••••••• ••••••••• S•••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV May 16, 2018 (observed) S•••• V• J••••• L••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 30, 2018 (observed) S•••• V• I••••••••• G• L••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 30, 2018 (observed) P•• R••• E••••• P••••••• L••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 30, 2018 (observed) S••••• I• F•••• L••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 30, 2018 (observed) P•••••• A••••••• C•••• L••• L•••••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 30, 2018 (observed) S•••• V• I••••••••• C• L••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 30, 2018 (observed) S•••• V• J••••• L••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 30, 2018 (observed) S•••• V• J•••• I••••••••• L••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 30, 2018 (observed) S•••• V• J•••• I••••••••• G• L••• no longer reported on Form ADV by Pag
- Vehicle first reported Mar 31, 2017 (observed) S•••• V•• L••• first reported on Form ADV by Pag, GAV $364,016,804
- Vehicle dropped from ADV Mar 31, 2017 (observed) S••••• I• L••• F•••• L••• no longer reported on Form ADV by Pag
- Vehicle dropped from ADV Mar 31, 2017 (observed) S•••••• C•••••• R••• E••••• P••••••• I•• L••• no longer reported on Form ADV by Pag
- Vehicle first reported Mar 31, 2017 (observed) S•••• V• J••••• L••• first reported on Form ADV by Pag, GAV $30,429,304
- Vehicle first reported Mar 31, 2017 (observed) S•••• V• I••••••••• C• L••• first reported on Form ADV by Pag, GAV $384,817,897
- Vehicle first reported Mar 31, 2017 (observed) S•••• V• I••••••••• G• L••• first reported on Form ADV by Pag, GAV $384,817,897
- Vehicle first reported Mar 30, 2016 (observed) P•• R••• E••••• P••••••• ••••••••• S•••• first reported on Form ADV by Pag
- Vehicle first reported Oct 6, 2015 (observed) P•• R••• E••••• P••••••• L••• first reported on Form ADV by Pag, GAV $181,541,649
- Vehicle first reported Mar 28, 2014 (observed) S•••• V• J•••• I••••••••• L••• first reported on Form ADV by Pag, GAV $263,369,177
- Vehicle first reported Mar 28, 2014 (observed) S•••• V• J••••• L••• first reported on Form ADV by Pag, GAV $692,358,862
- Vehicle first reported Mar 28, 2014 (observed) S•••• V• J•••• I••••••••• G• L••• first reported on Form ADV by Pag, GAV $263,369,177
- GAV reading quarantined Jul 3, 2013 (observed) P••• I• L••••••: 2013 gross asset value $36,512,672 quarantined (vehicle_gav_year_outlier)
- Vehicle dropped from ADV Mar 27, 2013 (observed) S•••••• C•••••• J•••• R••• E••••• P••••••• I• L••• no longer reported on Form ADV by Pag
Across DFX
Bridged by shared CRD, CIK or SEC fund id only; the same institution’s PE portfolio companies and its real estate holdings stay on their own graphs.