China's sovereign wealth fund exits Blackstone investment

China's sovereign wealth fund exits Blackstone investment

Photo: Bloomberg

China’s sovereign wealth fund China Investment Corp (CIC) has sold its equity holding in Blackstone Group LP, the U.S. private equity firm said in a filing, exiting from an 11-year old investment.

The original agreement with Beijing Wonderful Investments – the legal entity set up by CIC to invest in Blackstone – was struck in May 2007, just before the private equity firm’s initial public offering a month later.

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