The Rising Influence of Rising Affluence

[ilpapa]

The return trip:


The Chinese government has agreed to buy investment stakes currently held by General Motors’ pension plan, in a deal that will make Beijing a sizeable investor in many of the US and Europe’s largest private equity funds.

The State Administration of Foreign Exchange, which manages China’s more than $3tn in foreign exchange reserves, will pay $1.5bn-$2bn for GM’s positions in blue chip private equity funds managed by firms including Carlyle Group, Blackstone and CVC Capital Partners.

(EDIT - that was from the FT)