Global PE firms lose top spot
(China Daily) Updated: 2012-05-16 13:01Blackstone Group LP and TPG Capital are among global firms losing their position as preferred investors in China, the world's second-biggest private-equity market.
Investments by Chinese companies rose to $7.8 billion last year, exceeding for the first time the $7.4 billion poured in by US and other foreign funds, according to the Asian Venture Capital Journal.
China is stepping up efforts to develop home-grown firms, and individuals and institutions are pumping money into a market that favors the yuan over the dollar.
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