China Investment Corp has sold its stake in Blackstone, the Financial Times reported March 13. CIC’s original stake in Blackstone accounted for 9.9 percent of the buyout shop when China’s sovereign wealth fund originally invested in 2007 for $3 billion, the story said. CIC bought and sold stakes in Blackstone in the years following the original 2007 investment but began reducing its stake over the past 18 months, the FT said.
Source: https://www.pehub.com/2018/03/cic-sells-blackstone-stake-financial-times/
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