Carlyle Group is in talks to sell up to 9.9 per cent of itself to China

[flashl]

Carlyle in talks to sell %9.9 management stake to Chinese

Carlyle Group is in talks to sell up to 9.9 per cent of itself to China’s Social Security Fund in a move that would make it the latest American buyout firm to sell a stake in its management company to the Chinese.

The talks, which began over the summer, emerged five months after Blackstone Group, a key rival, sold a 10 per cent stake in itself to the Chinese Government and floated on the New York Stock Exchange.

Kohlberg Kravis Roberts (KKR), the private equity firm, and Och Ziff, the hedge fund, have also announced intentions to float. The hedge fund also announced plans yesterday to sell a 9.9 per cent stake to Dubai International, the investment firm controlled by Sheikh Mohammed bin Rashid al-Maktoum, for $1.26 billion (£611 million).

The Social Security Fund, which has about $62 billion of assets, is thought to be keen to tap the vast profits that private equity firms have made in recent years and is said to have also spoken to other suitors.
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Hasn't Caryle been on a buying spree of U.S. businesses?

[C_U_L8R]

1. Hello Dunkin' Dumplings

[Cooley Hurd]

3. Yum - I love fried dumplings!

If that's the case, I'm cool with it...;)

[Cooley Hurd]

2. Un-American scumbags...

:thumbsdown:

[dpbrown]

4. When did we stop calling it COMMUNIST China?

What kind of bullshit hypocrisy is it for rampant marauding corporate pirate "capitalists" like those in the Carlyle Group to be selling itself off to Communist China?

Hey Fidel, all you lack is money or the United States would be owned by Cuba!

[flashl]

5. Cashed-up countries buy into US

LIBYA, flush with oil, has amassed $US40 billion ($A43.7 billion) and is ready to put it in play on Wall Street.

China recently acquired a huge stake in one of the biggest names in finance in the US.

Tiny Qatar is adding $US1 billion a week to its investment coffers and is trying to buy the leading grocer in Britain.

Developing nations, especially in Asia and the Middle East, are aggressively stockpiling some of the largest concentrations of investment money in history. The cash hoards, called sovereign wealth funds, are controlled not by state-run companies or private investors but by governments.

These investment pools are equal to, or even bigger than, the largest pension and private equity funds in the US, and many are highly secretive about their activities. The Abu Dhabi Investment Authority has an estimated $US875 billion to invest, while China's first stab at a sovereign wealth fund has $US200 billion. The largest private equity firm has about $US90 billion under management.

Sovereign wealth funds have been around for decades. But, enriched by the surge in the price of oil and the trade gap between the US and Asia, these funds have grown to gigantic proportions, alarming US politicians and regulators, some of whom held a series of key meetings on the topic this month in Washington. Some on Wall Street say the growing prominence of these funds portends a fundamental shift in financing power away from Western nations.

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There is NO end in sight in the selling of the U.S.