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)

People Business: Carlyle has poached a top European PE pro from Dubai International. (FT)

PE Getting Its Comeuppance: In Europe, fundraising is looking like crap too.  (CFO Zone)

Expanding: Harbourvest plans to raise a publicly listed debt fund in Europe. (FT)

Oversharing in the Office: The Wall Street Journal breaks this important story on “mistaking our coworkers for friends.” (WSJ)