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Banking, finance, and taxes

Blackstone Heading Deeper Into China (BX)

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By Douglas A. McIntyre Updated Published
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money-stack-imageBlackstone Group LP (NYSE: BX) looks like it is going to get a much stronger foothold in China.  A report from Reuters has the private equity giant in talks with the local city government of Shanghai.  The city announced last week that it wanted to pursue more private equity or sovereign wealth “types” of strategies.  The talks appear to allow Blackstone to establish a Chinese subsidiary  that would be wholly owned.  This would allow it to launch a local currency private equity fund.

Blackstone is the most logical of private equity funds to get a stronger position in China.  It seems that this is just the logical step after the news in recent months. Speculating on any size of a fund is premature, but it seems that this one would possibly top out at $1 billion or less.  Being a foreign entity and owning too large of an operating company (particularly infrastructure, where private equity has scored) in China is not the easiest thing to do.

There is a reason you rarely see M&A news out of China.

Jon C. Ogg

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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