From The Australian this morning comes news that Blackstone, a US based funds management group with $250 billion under management, is going to increase its focus and investments in Australia.
Co founder of Blackstone Stephen Schwarzman told the Oz:
“We like Australia and we want to be doing more things here…We are very focused on Australia. Where else in the world can you invest in where they don’t have recessions?”
He also told The Australian that the economy was “set up in a very intelligent way, with the pension system funded, which is pretty unusual in a developed world economy” and of course proximity to China is top of mind also.
Blackstone’s increased focus in Australia and the obvious Ausie dollar buying that it is going to induce is indicative of the views of a growing cabal of global investors. That’s potentially going to keep the Aussie dollar much higher than the RBA and Treasury would like.
It’s the challenge of prosperity.
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