Carlyle in talks to sell 9.9% management stake to Chinese

[LeighAnn]

Source: Times Online (UK)

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.

<snip>

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.

A deal with the Chinese fund would mark the third sale of a management stake by Carlyle. Previously it has sold small stakes to the California Public Employees’ Retirement System (Calpers) and the Mubadala arm of the Abu Dhabi Government.



Read more: http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2767153.ece

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Just another paragraph at the article

[sandnsea]

1. Yep

When people's retirements are invested in globalization, they aren't hardly going to oppose it or support any candidate or party who opposes it. They couldn't get it through privatizing social security direct, so now they're going the round-about way.

[liberal N proud]

2. The Chinese will own America one day

They already own a major majority of our debt. They have most of the work. This is just the next step.

[heliarc]

6. It doesn't matter

Corporations and Private Equity Investment companies are bigger than nation states already and have their own agendas and their own armies of private mercenaries to carry out company policy. America may not exist anymore, but neither will China.

And Carlyle isn't an American company... its an offshore private equity group that has leadership from many different countries. Its interests aren't tied to any national interest.

[CatholicEdHead]

8. It's based in Dubai, isn't it?

[Earth_First]

3. Is there nothing sacred to these folks any longer...n/t

[elehhhhna]

4. CG OWNS the company that RUNS the US Office of Personnel & Management

truefact. Look it up.

Is this in the public's interest? HELL NO!

[liberal hypnotist]

5. Does anybody know if the Clinton's are involved with Carlyle?

..or any other democrat presidential hopeful?

[KamaAina]

7. Well, not directly, but...

http://en.wikipedia.org/wiki/Carlyle_Group#Politics_and_public_service

William Kennard, Chairman of the U.S. Federal Communications Commission (FCC) under President Bill Clinton, Carlyle's Managing Director in the Telecommunications & Media Group from 2001 to the present.
Arthur Levitt, Chairman of the U.S. Securities and Exchange Commission (SEC) under President Bill Clinton, Carlyle Senior Advisor from 2001 to the present...

Mack McLarty, White House Chief of Staff under President Bill Clinton, President of Kissinger McLarty Associates, Carlyle Senior Advisor from 2003 to the present

:scared:

Factoid: Carlyle owns Hawai'i's landline phone provider, which they purchased from Verizon and renamed Hawaiian Telcom. :eyes:

edit: caps