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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

China’s CIC chief defends investments, Blackstone

Posted on 27 October 2008

From Reuters.com: The chairman of China’s sovereign wealth fund has defended its operations, saying its investment in U.S. private equity firm Blackstone will pay off in the long run, and noted it holds over 90 percent of its assets in cash just as global equity markets are plummeting.

China Investment Corp (CIC) bought its original stake in Blackstone Group just before the company’s $31-a-share initial public offering in June 2007, but has seen the value of its investment sink as a year-long crisis froze credit markets, prompting widespread criticism….. Full Article: Source


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