The Iron Triangle-Inside the Secret World of the Carlyle Group by Dan Briody

Author:Dan Briody
Language: eng
Format: mobi
Tags: International, Business & Economics, General
ISBN: 9780471660620
Publisher: John Wiley & Sons
Published: 2003-04-01T05:00:00+00:00

EPILOGUE

It may well be that writing a book about the Carlyle Group in 2003

is a premature exercise. The company is, after all, only 15 years

old, and is just now hitting its stride. In fact, the future holds even

more intrigue for this private equity behemoth than the past.

In the summer of 2002, Carlyle helped form the China Venture

Capital Association, a nebulous organization charged with warding

off corruption in China and strengthening ties with the Chinese

government. Chang Sun, the chairman of the group, said “within

the industry we need to have a minimal level of code of conduct so

that we don’t have people who ruin the reputation of the industry.

We will talk about how to regulate ourselves rather than be

regulated by the government.” A truly scary prospect, but nothing

we haven’t seen before.

China, like Saudi Arabia decades ago, is fertile ground for American

investment. Edging its way toward a more capitalistic society, China is

still a massive untapped market controlled largely by the

government: a combination tailor made for Carlyle’s special brand

of access capitalism. In other words, watch this space.

Another area to keep an eye on would be Europe. In the fall of

2002, Carlyle completed an acquisition of Qinetiq, the research and

development arm of the United Kingdom’s Ministry of

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