Carlyle’s Rubenstein still bullish on Japan, China

03-Oct-2013

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An eternal optimist, Liu-Yue built two social enterprises to help make the world a better place. Liu-Yue co-founded Oxstones Investment Club a searchable content platform and business tools for knowledge sharing and financial education. Oxstones.com also provides investors with direct access to U.S. commercial real estate opportunities and other alternative investments. In addition, Liu-Yue also co-founded Cute Brands a cause-oriented character brand management and brand licensing company that creates social awareness on global issues and societal challenges through character creations. Prior to his entrepreneurial endeavors, Liu-Yue worked as an Executive Associate at M&T Bank in the Structured Real Estate Finance Group where he worked with senior management on multiple bank-wide risk management projects. He also had a dual role as a commercial banker advising UHNWIs and family offices on investments, credit, and banking needs while focused on residential CRE, infrastructure development, and affordable housing projects. Prior to M&T, he held a number of positions in Latin American equities and bonds investment groups at SBC Warburg Dillon Read (Swiss Bank), OFFITBANK (the wealth management division of Wachovia Bank), and in small cap equities at Steinberg Priest Capital Management (family office). Liu-Yue has an MBA specializing in investment management and strategy from Georgetown University and a Bachelor of Science in Finance and Marketing from Stern School of Business at NYU. He also completed graduate studies in international management at the University of Oxford, Trinity College.

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By CNBC,

David Rubenstein, co-CEO of private equity fund firm The Carlyle Group, said Thursday he is still “very bullish” on Asia at the Dow Jones Private Equity Analyst Conference in New York City.

Rubenstein said he thinks China is the second best place to invest in the world, after the U.S. He said Chinese growth may fall to 6 percent or 7 percent, but that was still excellent compared to the rest of the world. “There are still a lot of opportunities there,” he said.

Rubenstein also said he was “very bullish” on the Japanese economy despite its challenges.

On Washington, Rubenstein speculated that Congress would raise the debt ceiling and avert a government shutdown, but both would be done at the last minute and after a sloppy process. “It won’t be pretty,” he said.

“We are the biggest government in the world and we run it like a small mom and pop shop,” said Rubenstein, saying such a process could hurt foreign investment in the U.S. “It’s embarrassing.”

Rubenstein also said he doesn’t expect changes to the carried interest tax treatment in the near future. He said it would have to be part of comprehensive tax reform in Congress, which is unlikely to happen.

He also called to lawmakers to change the rules that determine who can invest in private equity and other alternative assets. Rubenstein said it was “unfair” that a person can inherit millions of dollars and instantly be an accredited investor, while a well-educated person who, for example, chooses to work for Teach for America out of college is not considered sophisticated enough by the government to invest in a private equity fund.

Carlyle has more than $180 billion in assets under management across 118 funds and 81 fund of funds vehicles, according to its website.

Carlyle announced this week that it had agreed to buy Metropolitan Real Estate Equity Management, a global real estate funds of funds with more than $2.6 billion in capital commitments. Financial terms were not disclosed and Rubenstein did not discuss the deal in his comments Thursday.

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