23.06.2009 - China Investment rewards failed Blackstone Investment with more cash
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