Hong Kong-based private equity firm PAG on Friday said it has invested $250 million in theme park operator Universal Studios Japan. PAG has joined other investors including Goldman Sachs Group, MBK Partners and Owl Creek in the deal. 

According to a report by Reuters, the fund will enable Universal Studios Japan to pursue its current plans such as launching a new Harry Potter attraction an expanding into other parts of Asia. The money will also go towards recapitalizing the theme park operator, Financial Times said in a separate report. 

Reuters said that PAG, however, did not disclose the equity stake it will receive in the company. 

PAG had invested heavily in real estate in Japan but this is the first time the firm has put money to work in a corporate deal in the country. Last year it raised $2.5 billion for a private equity fund and has already realized $1 billion from its investment, Financial Times said. 

PAG has about $10 billion in assets under management. It is operated by former TPG Capital rainmaker Shan Weijian, the report said.