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Private (Equity) Lessons

The FT reports a surge of private equity deals in Asia:

Private equity in China [1]is still strong, but in regional terms “dropped back to fifth place with only $678.7m of deals so far this year compared with $4.22bn in the first half of last year”.

At least one firm in China will be allowing itself to smile. Carlyle, which has been beset by deal approval problems [2], may finally have some good news. The FT notes:

It seems a lesson has been well learnt! Government policy, and nationalist sensitivities, needs to be considered when developing business strategy in China. Having the government as a shareholder (as Blackstone does [3]) may help planning on that front. The FT wonders whether Carlyle will go down the same route.

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