Chinese sovereign fund CIC to sell $1.3 billion of US private equity investments, sources say
HONG KONG - Chinese sovereign investor China Investment Corporation (CIC) is selling about US$1 billion (S$1.3 billion) of its private equity (PE) investment portfolio in the secondary market, two people with knowledge of the matter said.The assets are held in a number of funds managed by eight US fund managers, including Blackstone and Carlyle Group, said the people. CIC has tapped US investment bank Evercore to advise on the sale and aims to complete the divestments by the end of June, they said.The total value of the assets and the...



