China Investment Corporation (CIC), China's sovereign wealth fund, has sold its stake in American private equity giant Blackstone Group. The financial details of the exit have not been disclosed. In a statement on Monday, CIC said it had "decided to sell all shares held by Blackstone" and that it would continue to hold an unspecified amount of stock through 2023.
China Investment Corporation (CIC), China's sovereign wealth fund, has sold its stake in American private equity giant Blackstone Group. The financial details of the exit have not been disclosed. It ends an 11-year investment and comes amid growing trade tensions between China and the US.