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CIC seeks Harvard’s U.S. real-estate portfolio

Posted on 04 August 2010

From WSJ: In a major push into the battered U.S. commercial real-estate market, China’s $300 billion sovereign-wealth fund is in advanced talks with Harvard University’s endowment to buy its stakes in half a dozen U.S.-focused real-estate funds for about $500 million, according to people familiar with the matter.
The deal would follow commitments that China Investment Corp., or CIC, has made to invest $1 billion in funds managed by Brookfield Asset Management, headquartered in both Toronto and New York, and $1 billion to Cornerstone Real Estate Advisers, of Hartford, Conn., people with knowledge of the situation say……………………………………….Full Article: Source

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