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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

China’s 7.4pct stake in General Growth is a bet on U.S. shoppers

Posted on 23 November 2010

From Pbn.com: China’s sovereign wealth fund, in a bet that U.S. real estate and retail spending will recover, has acquired a 7.4 percent stake in General Growth Properties Inc., the second-largest U.S. mall owner and the parent company of Providence Place.
China Investment Corp. holds 59.3 million common shares and warrants to buy an additional 14.7 million shares, according to a Form 4 filed on Thursday with the U.S. Securities and Exchange Commission. The Future Fund Board of Guardians, a manager for Australian government pension funds, holds a 6.4 percent stake in Chicago-based General Growth, documents show……………………………………….Full Article: Source


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