PAG Asia Capital Limited, a private equity firm focused on China and other regions across Asia, has become a cornerstone investor in the Shanghai-listed securities firm Haitong Securities’ upcoming initial public offering in Hong Kong. PAG is purchasing shares valued at US$300 million as part of a potential US$1.8 billion offering. PAG joins a group of 10 additional cornerstone investors, including D. E. Shaw, SBI Holdings and Oman Investment Fund, which have collectively agreed to purchase a combined US$580 million worth of shares.