Friday, July 10, 2009

Carlyle Group's Chinese Affiliate Sues Board Member

The Carlyle Group announced a new $1.04 billion Asian fund, 80% targeted to China and India. Forbes reported a Chinese joint venture is suing a board member.

They assert the board member provided “false and misleading data” and “violated his responsibilities and duty of loyalty as a director of the joint venture and as a party to the transaction with Carlyle.”

Carlyle has a creative history of lawyer use. How might that impact future Chinese acquisitions? If it's negative, look for more funds to go to Russia. Obama's recent visit had a clear business bent.