2008-05-08 — ft.com
John Snow, the company’s chairman and the former US Treasury secretary, said there were “no specific proposals†at the moment to work with the China Investment Corporation but added that Cerberus was “obviously interested in having a good relationship with global pools of capitalâ€.
Can you feel the love? I can hear the future words of regret and denial now: "I did not have relations with that pool of capital!"
Maybe future words of regret will come from China...
CIC, which was formally established late last year, may be reluctant to invest in US private equity firms. Its first offshore investment, a $3bn pre-initial public offering purchase of shares in Blackstone, has suffered substantial paper losses.
Or hey, maybe all will end well and everyone will make money.
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