Private equity firm moves in as liquidators seek to recover assets from developer China Evergrande's creditors have recovered less than 1% of $46 billion that the company owes, two years into its liquidation. © Reuters HONG KONG -- Hong Kong-headquartered private equity firm PAG has agreed to buy a 51% stake in Evergrande Property Services for 4 billion Hong Kong dollars ($510 million), marking major progress for liquidators of China Evergrande as they seek to recover funds for creditors.