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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Investment

China wealth fund to raise stake in Blackstone to 12.5 pct from 9.9 pct - report

Posted on 17 October 2008

From Forbes.com: China’s sovereign wealth fund plans to increase its stake in Blackstone Group LP to 12.5 pct from 9.9 pct, the Wall Street Journal reported, citing people familiar with the situation.

China Investment Corp is expected to purchase the shares on the open market, the newspaper added. CIC paid three bln usd for a 10 pct stake in Blackstone just ahead of its initial public offering in June 2007, a holding that has since lost about 70 pct of its value….. Full Article: Source


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