KKR & Co. LP, Carlyle Group LP, Bain Capital and other private equity firms urged Japan's government on Friday to shrink the role of state-backed funds, saying they could squeeze out opportunities for private capital and delay restructuring for troubled companies. Japan's two largest state-backed funds have the capacity to raise up to $37 billion to inject money into Japanese companies.The funds have edged out private equity in recent bailouts of chipmaker Renesas Electronics Corp and Japan Airlines Co, reflecting a policy favoring softer restructuring than outside investors would pursue.Without new controls, the government funding could allow companies to "push back problems" and retain "idle assets," the Japan Private Equity Association said in a statement.The association called on the administration of Prime Minister Shinzo Abe to set up a monitoring system on the return on government funds and to limit both the amount they invest and the period of their investment.
Shares of CG remained unchanged at $32.56. In the past year, the shares have traded as low as $20.00 and as high as $37.89. On average, 154378 shares of CG exchange hands on a given day and today's volume is recorded at 0.
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