Cracking China’s buyout code(2)

Weijian Shan was one of TPG’s top dealmakers in China for more than a decade. He left the firm last year to become chairman and chief executive of PAG Group, whose private equity arm held a $1.7bn first close this summer on its debut Asian buyout fund, targeting $2.5bn.Though Shan declined to discuss fundraising, he recently talked with PE Asia about China’s macroeconomic climate, its developing private equity industry and the pleasure derived from working on successful turnarounds.