Pacific Alliance Group has announced that Weijian Shan will partner with PAG to become Group Chairman and Chief Executive Officer effective July 1, 2010.

As Group CEO, Shan will work closely 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.

In addition, 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 Shan will continue to serve as an advisor to a number of TPG portfolio companies.

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.”

Chris Gradel, Co-Founder of PAG, commented, “We are excited to combine forces with an industry leader like Shan. We have a strong team in each of our businesses already, and now we will have an unparalleled bench of expertise and tremendous reach and scale which will benefit the Group as a whole. We genuinely believe that we are at an
inflection point for the alternative investment industry in Asia, with local firms now able to attract the very best in the industry. This partnership forms a key part of our plan to develop into the leading institutional platform in the region.”