China acquires $3 billion stake in Blackstone
(Update: This just in: Texas Pacific Group and Goldman Sachs’ private equity arm have agreed to acquire Alltel, the wireless phone company, for $27.5 billion, the largest telecom buyout ever. There’s a frenzy of activity in the private equity world, and we’re likely seeing its peak.)
This isn’t a venture capital story, but is significant because it is an unprecedented commitment by China to a U.S. investment firm — and suggests more Chinese money may be… Continue Reading