Pacific Alliance Group (PAG), a Hong Kong-based alternative investment manager, has appointed Weijian Shan as its new group chairman and CEO effective July 1, 2010.
Mr Shan will lead the effort to raise a new Asia-focused private equity buyout fund. As group CEO, he will work with the group’s investment teams to coordinate and optimize synergies across the group and to shape and oversee the group’s strategy and development. A key part of this strategy will be the establishment of a new pan-Asia private equity fund focused on large-size buyouts, structured transactions and strategic block investments.
In addition, Mr Shan will maintain a business relationship with TPG, the private
investment firm where he has worked since 1998. Under the arrangement, TPG will have certain rights to participate in co-investment and co-sponsorship opportunities, and Mr Shan will continue to serve as an adviser to a number of TPG portfolio companies.
David Kim has also recently joined PAG as a partner and will assume the role of COO of PAG’s private equity business. He was formerly head of the Asia Financial Institutions Group at Nomura International (and previously at Lehman Brothers) and has worked with Mr Shan as an adviser on a number of transactions for over a decade.
Mr Shan said: “I originally planned to start my own fund rooted in and committed to Asia, but having subsequently come to know the founders of PAG and their investment platform, I decided instead to partner with them to grow a best in class private equity franchise. I am also pleased to have the continued support of TPG in my new venture.”