PAG Beefs Up Japan Investment With $13 Billion in Targeted Deals

PAG is planning to invest about ¥2 trillion ($13 billion) in Japanese real estate and private equity deals in the next three to four years, ramping up its spending plans as more opportunities arise in the market.

The $55 billion Asian alternative asset manager’s target is a step up from a previous goal disclosed in early 2025 to invest around ¥1 trillion in Japan property. The latest projection includes private equity transactions and reflects additional capital from a new real estate fund, according to PAG President and Co-Founder Jon-Paul Toppino.