Market Chatter: Chinese Sovereign Fund CIC to Sell $1 Billion Private Equity Investments
Chinese sovereign wealth fund China Investment Corporation plans to sell approximately $1 billion of its US-based private equity investments in the secondary market. The assets are managed by eight US fund managers, including Blackstone and Carlyle, with Evercore advising on the sale. The sale's deadline and final value may vary based on market conditions.
Chinese sovereign wealth fund China Investment Corporation will sell about $1 billion of its US-based private equity investment portfolio in the secondary market, Reuters reported, citing two people with knowledge of the matter.
Eight US-based fund managers, including Blackstone and Carlyle, are managing the assets held in a number of funds, according to Reuters.
Evercore will be the adviser for the sale, the report said.
The deadline for the sale and its final value are still subject to change, depending on market conditions, according to Reuters.
Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.
