The Carlyle Group, one of the world’s biggest private equity firms, is looking to invest roughly $5 billion in 2010 in businesses across the globe.
However, in an interview with the TimesOnline, Bill Conway, one of Carlyle’s founders and as current Chief Investment Officer, noted the uncertainty facing private equity investors in the year ahead. “Rates of return are going to come down on all asset classes, including private equity,” he said. There will continue to be a great unwinding of debt, in particular by the banks that will keep a ceiling on asset prices.
But one place that does present great opportunities is China. Five years ago Carlyle invested $800 million into China Pacific Group, which just this week raised funds in a Hong Kong public offering, boosting Carlyle’s stake to a reported $4.7 billion.
Conway founded Carlyle in 1987 along with Stephen Norris and David Rubinstein. Since then, the firm has invested $57 billion in 932 buyouts and currently has $87 billion under management in 65 funds, according to the Times.
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appreciate the news and industry insights
Just when I am hearing that few Chinese automaker is buying Volvo – a ford company, this was a relief to know that US PE are also involved in many of the acquisitions in that region. Chinese shows capability to acquire even more corporations in American landscape, but if that is US investors money even to some extent, that is a better news. From $800 mm to nearly $5 billion is too lucrative to stick to that region and Carlyle Group is doing no surprise there.
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