PAG, an alternative investment firm focused on Asia Pacific, completed the acquisition of a majority stake in Australian Venue Co, a food and beverage hospitality business, from KKR, a global investment firm. Financial terms were not disclosed. “We are very pleased to partner with AVC, a proven market leader with an exceptional management team and great potential. Our goal is to work with strong businesses and help them become even stronger in Australia. AVC has created some of the most unique and iconic venues across Australia and New Zealand, and we are looking forward to supporting them on their next stage of growth," Lincoln Pan, PAG Partner and Co-Head of Private Equity.