Blackstone's bid reflects China link

It was big news when the Blackstone Group announced it had sold a $3 billion stake in its management company to China's state investment agency. The thought was that the move would also open up new opportunities. Looks like it's paying off. According to the Financial Times, Blackstone has teamed up with China National BlueStar to bid for Australian chemicals maker Nufarm. This appears to be the first time a U.S. private equity firm and a Chinese firm have partnered to buy a company. We'll likely see more of these kinds of arrangements in the future. There's a lot of wealth in China that has to be recycled so to speak back through the financial systems.

For more:
- here's the Financial Times article

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