Private equity is money invested in firms which have not made their initial public offering or IPO. In 2017, the Carlyle Group was the largest private equity firm worldwide by assets under management valued at 178 billion U.S. dollars and Apollo Global Management followed closely behind.
The U.S. dollar has been the de facto global reserve currency since the Bretton Woods exchange rate system was established in the 1940s. Global currency reserves amounted to 11.42 trillion U.S. dollars in 2017.
