| Sovereign wealth funds are "a gigantic source of new investment" that are elbowing aside public pension funds in the private equity space, Carlyle Group co-CEO David Rubenstein said Wednesday. Such state-controlled funds increased to 37 percent of capital commitments at Carlyle last year, up from 17 percent a year earlier, Rubenstein said.
"I suspect that will continue. At the same time public pension funds are going down, relatively speaking. It was 28 percent; now it's about 18 percent," Rubenstein said during an investor conference call to announce the District-based firm's 2014 financial results...............................................Full Article: Source
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