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September 8, 2008 7:07:07 AM CDT

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Chinese Pension Fund Considers US Private Equity Deals

Posted Oct 30, 07 9:25 AM CDT in Business 

(Newser) – China, suffering buyer’s remorse after investing in US private equity firm Blackstone, is taking its time before diving back into that end of the financial pool, reports the Financial Times. The Big Three of US equity firms, Carlyle, KKR, and TPG, are each seeking a minority investment from China’s Social Security Fund, which has some $61.5 billion in assets.

China wants to export capital, but more effectively than the Japanese did in the 1980s. China’s Citic Securities and Bear Stearns recently announced plans to invest $1 billion in each other, a swap that liberates the parties from concerns over stock prices. Meanwhile, Blackstone shares have dropped 21% since June. ”The Blackstone deal is not as good as we thought,” said a China Investment Corp. exec.

Source Financial Times (UK)

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A bank worker sorts out stacks of Chinese yuan bills at a bank in Nanjing, in eastern China's Jiangsu province, Friday, Aug. 18, 2006. China's government is creating an investment company to make more...   (Associated Press)
People walk on a street lined with shopping stores, Thursday Oct. 25, 2007, in Shanghai, China. China's supercharged economy grew by a stunning 11.5 percent in the third quarter, slowing slightly amid...   (Associated Press)
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China  • US economy  • Bear Stearns  • Blackstone Group  • Citic Securities Co.


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