31.07.2009 - CIC taps Morgan Stanley, Blackstone hedge-fund units for allocations
From WSJ: China Investment Corp. has selected Morgan Stanley's asset-management unit and Blackstone Group LP to oversee hundreds of millions of dollars in allocations as it ventures into the U.S. hedge-fund business. China's $200 billion sovereign-wealth fund has finalized an allocation of $500 million to Blackstone Group's fund-of-funds unit, so called because it farms out clients' money to dozens of individual hedge funds, and also has earmarked additional money to be overseen by Morgan Stanley's asset-management unit, according to people familiar with the situation..........Full Article (Subscription Required) : Source