Simpson Thacher advised PAG Real Assets in connection with the formation and fundraising of PAG REN I, its first renewable energy-focused fund. PAG REN I will focus on investing in physical renewable energy assets in Asia with solar power generation in Japan as a primary target. The fund’s goal is to support the development, acquisition, and operations of renewable energy assets, advancing the region’s clean energy transition while generating attractive risk-adjusted returns.~~PAG is a leading Asia Pacific-focused alternative investment firm which manages more than USD55 billion in capital across Private Equity, Real Assets and Credit & Markets businesses for a globally diversified base of 300 institutional investors.~~The Simpson Thacher team included Adam Furber, Michael Ceulen and Jingyi Wang (Asia – Private Funds); Nancy Mehlman, Brian Mendick, and Irace Preston (Tax); Jonathan Hwang and Benjamin Moh (Asia – Real Estate); and Jeanne Annarumma (ERISA).