PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has agreed to wholly acquire South Korea-based toy robot manufacturer Young Toys for KRW220 billion (approximately US$203 million). PAG will acquire a 96.5 percent stake held by Asia-focused private equity fund manager Headland Capital Partners, which first invested in Young Toys in 2012, and a 3.5 percent stake controlled by company management.