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China Sovereign Wealth Fund CIC Sells Stake in Private Equity Group Blackstone

China Sovereign Wealth Fund CIC Sells Stake in Private Equity Group Blackstone

China’s Sovereign Wealth Fund, China Investment Corporation (CIC) had sold its shares in Blackstone Group, the world’s top 10 largest private equity group.  CIC had took a $3 billion (9% stake) in the US private equity group before it went publicly listed in 2007.

” China CIC Exits Blackstone Private Equity Group “

China Investment Corporation (CIC) was founded in 2007 with a capital of $200 billion. The sovereign wealth fund was established to diversify China’s foreign exchange holdings and seek maximum returns for its shareholder within acceptable risk tolerance.  It is the 2nd largest sovereign wealth fund and in 2017, is estimated to have more than $900 billion Assets under Management (AUM).  Norway’s Government Pension Fund is the largest sovereign wealth fund, with more than $1 trillion AUM.

Sources: SCMP, Bloomberg

 

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About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.

Visit: www.blackstone.com

 

About China Investment Corporation

Headquartered in Beijing, China Investment Corporation (CIC) was founded on 29 September 2007 as a wholly state-owned company incorporated in accord with China’s Company Law, with registered capital of $200 billion. The company was established as a vehicle to diversify China’s foreign exchange holdings and seek maximum returns for its shareholder within acceptable risk tolerance.

Visit: China Investment Corporation


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