peHUB Second Opinion 4.6
Charts: Why California Pension Managers Shouldn't Be Allowed Near Money. (Paul Kedrosky) Investors ♥ Junk: They can't get enough of high yield bonds. (FT Alphaville) Feature: Private Equity ventures into China. (China Daily) Carried Interest 2.0: If most GPs strongly believe they're top-quartile performers, then does that mean we should change our performance fee equation to 10% carry below 2x? (Private Equiteer) No FUN for Apollo: The firm's deal to acquire Cedar Point has fallen apart on price. Shareholders asked for more; Apollo said no. All this is to say that one of the best stock ticker symbols out there-FUN-will remain afloat, for the time being at least. It remains to be seen if KKR's rumoured buyout of HOG (Harley Davidson) will steal away another good one. (peHUB)
