China’s Social Security Fund, which manages over $61 billion in assets, appears to have an aggressive interests in getting further into the US private equities markets. Talks have slowed somewhat because the investment by China Investment Corp into Blackstone (BX) has not turned out as well as was planned.
But, the SSF is now considering buying up to 9.9% in KKR, Carlyle, or TPG, according to the FT.
Members of Congress have voiced concern about deals of this kind and have already questioned an investment in Bear Stearns (BSC) by China’s Citic Securities. How a minority investment in a brokerage or private equity firm would effect the national interest or compromise government secrets is not entirely clear.
But, Congress will still want to look into it.
Douglas A. McIntyre
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.