Lately, the Carlyle Beijing Partners fund invested 350 million renminbi ($56 million) in Beijing Ubox Technology & Trade Co., a vending machine operator.
"Obviously there have been some concerns about the stock market of late, and we do take that into account in pricing decisions. But given the size of the Chinese economy—and it will be the largest in our lifetime—I don't think you can afford to avoid it if you want to be a global investor," said Rubenstein.
He added that Chinese stocks were likely to fall further.
"Clearly there are still some problems, I have to say, in certain economies around the world, and probably prices will come down a bit further in some areas. But when prices fall, that does make good opportunities for people like us to invest at lower prices. So we like that. Obviously we own some existing assets and so they're going down as well," Rubenstein said.