PAG-led consortium, an Asia-focused private equity investment group, agreed to invest $10bn in Zhuhai Wanda, a property management services company. Zhuhai Wanda is the world’s largest operator of shopping malls by square footage. The company currently manages 494 malls in 227 cities in China. Over the past two years, the number of malls under management has increased from 417 to 494, representing an annual growth rate of about 9%.