Private equity firm PAG, alongside a consortium of investors including Citic Capital, the Abu Dhabi Investment Authority, Mubadala Investment Company, and Ares Management Corporation, has disclosed an $8.3 billion investment for a 60% stake in Dalian Wanda’s mall unit, Newland Commercial Management. Dalian Wanda will retain a 40% stake in Newland. Newland oversees 496 large shopping malls across China.