Friday, August 21, 2009

Carlyle Group Rushing to Yuan

Private equity underwriters (PEU's) rush to build yuan denominated funds. The list includes the Carlyle Group, Blackstone, KKR and Macquarie. WSJ reported:

The flurry of announcements reflects a sense of urgency among the foreign firms.
What does David Rubenstein know? Will China soon float the yuan? Is the dollar headed for an implosion? Will a new Fed chair impact the dollar's value? Are rich Chinese investors hesitant to invest in dollar denominations?

Only, the prescient Mr. Rubenstein can answer. Did it come from a private session with Tim Geithner or Larry Summers, maybe a dinner with Rahm Emanuel?