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Sovereign Wealth Funds Briefing - Categorized | Investment

China Investment rewards failed Blackstone Investment with more cash

Posted on 23 June 2009

From Seekingalpha.com: After watching their US$3bn investment in the Blackstone IPO shrink by nearly two-thirds (from $29.605 to $12), China Investment Corp is reported to be investing $500mn in Blackstone funds (not directly in the stock this time) in an attempt to get into markets while prices are cheap.
Fair enough on the market call, but I guess there aren’t any hard feelings regarding the overvalued price CIC was given previously for Blackstone shares ($29.605)……..Full Article: Source


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