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Hong Kong’s PAG Snaps Up Japanese Theme Park for $720 Million

  • PAG will acquire Huis Ten Bosch as it doubles down in Japan
  • Bain Capital, Carlyle and KKR also expand dealmaking in Japan
The Huis Ten Bosch theme park.

The Huis Ten Bosch theme park.

Photographer: Tomohiro Ohsumi/Bloomberg

Private equity firm PAG agreed to buy one of Japan’s biggest theme parks for an equity valuation of about 100 billion yen ($720 million), doubling down in Asia’s second-biggest economy as Covid protocols are eased on incoming travelers.

Hong Kong-based PAG, which oversees $50 billion, is acquiring Huis Ten Bosch Co., a Dutch-themed resort from travel agency HIS Co., adding to its $17 billion in investments in Japan over the past decade, according to a press release. Located in Nagasaki prefecture, the park spans 376 acres and has five hotels. It welcomed more than 2 million visitors annually from Japan and abroad before the pandemic.