David Rubenstein, co-founder and co-CEO of The Carlyle Group, discussed where he sees the best private equity investment opportunities during an interview at The Aspen Ideas Festival in Aspen, Colorado. Rubenstein said that he thinks real estate is an attractive investment in the U.S., and that Carlyle gets high rates of return for its investments, but there is some reason for caution. ‘I think there might be bubbles in some parts of the real estate world,’ said Rubenstein. ‘For example, I suspect apartments built for billionaires in New York City might be a bit of a bubble. I’m not sure there’s enough billionaires to fill all of them’ He added there might also be a bit of a bubble in the high tech area of San Francisco. Despite concerns about a slowdown in China, Rubenstein said ‘we view China as the greatest place in the world to invest in the emerging markets.’ Carlyle is the largest private equity investor in China, and the investments have been profitable according to Rubenstein. He said Carlyle will continue to be active in China and it has ‘a number of things in the works.’
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