peHUB First Read

Some links to kick off your Tuesday:

* China already owns a piece of Blackstone, and now comes word that it also has held talks (via its Social Security Fund) to buy minority stakes in Carlyle Group, KKR and TPG.

* Is Facebook’s $15 billion valuation already passé? Here comes the $100 billion argument.

* Thoughts on angel funding, from David Cohen.

* Who will replace Stan O’Neill atop the Merrill Lynch corporate ladder? Most of the speculation centers around Blackrock chief Laurence Fink. Here’s DealBook’s take.

* welcomes back private equity