Thursday, September 30, 2010

Rubenstein Welcome in China

The WSJ & EPJ reported the words of Carlyle Group co-founder David Rubenstein, who spoke during the Dow Jones Private Equity Analyst Conference in New York.:

“China encourages private equity investment more than any other country in the world right now.”

“I feel more welcome there than in the halls of Congress.”

Rubenstein lost Congressional host Rep. Rahm Emanuel. He stands to lose another with Senator Evan Bayh’s retirement.

China understands substitution for profit growth.  They have no problems with firms making 30% annual returns on the back of taxpayers.  Most important, the Chinese understand huilu, baksheesh, payola.  Carlyle and the Chinese know these things.