The U.S. will continue to be the top place for The Carlyle Group to invest, but China also will be an important market, David Rubenstein, co-chairman and co-CEO of the private equity manager, said Friday.
Speaking at the Society of American Business Editors and Writers Conference in Washington, Mr. Rubenstein said he expects growth in the U.S. to continue at a modest 3% rate.
Among the biggest opportunities for private equity in the U.S. will be in carbon-related energy projects, Mr. Rubenstein said, including opportunities in companies involved in hydraulic fracturing.
As for China, Mr. Rubenstein said the country remains the most important emerging market. He said the Chinese government does not have serious concerns when a foreign private equity company buys a Chinese company, because ultimately the company probably will return to Chinese business interests at the end of the buyout period when the company goes public again.