From WSJ: China Investment Corp. is handing over an additional $500 million to be managed by a Blackstone hedge-fund unit, thinking it has found a good bargain.

Just think if China had passed on its previous $3 billion investment in Blackstone before it went public in June 2007. That deal gave it 10% of the firm. But what if CIC had instead invested in its old standby: U.S. Treasury bonds?……Full Article: Source