PAG Asia Capital Backs Bicon

Private equity fund PAG Asia Capital has invested $250 million in Bicon Pharmaceutical Holdings, writes Reuters. Weijian Shan, ex-TPG Capital dealmaker, and founder and chief executive of PAG, has been appointed chairman of the board of the new investee company.

Reuters – Private equity fund PAG Asia Capital has invested $250 million in unlisted Bicon Pharmaceutical Holdings Co Ltd, a unit of the Chinese pharmaceuticals company said on Tuesday. Weijian Shan, ex-TPG Capital dealmaker, and founder and chief executive of PAG, has been appointed chairman of the eight-member board of Bicon Pharmaceutical, which includes representatives from China Everbright Holdings and Sequoia Capital. (Reporting by Stephen Aldred)