Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to add as much as US$2 billion to Alibaba Group (1688.HKG) in an effort to help the e-commerce giant to pay for its repurchase of stake from Yahoo, Reuters reported, citing sources familiar with the matter. Alibaba struck a long-awaited deal to buy back half of Yahoo’s 40% stake for US$7.1 billion last week, valuing Alibaba at US$35 billion. To finance the purchase, Alibaba is raising US$4.6 billion via an issue of preferred shares, bank loans and the partial sale of its stake to existing shareholders Singaporean sovereign fund Temasek Holdings and Russian investment firm DST Global. Aside from CIC’s US$2 billion stake purchase, Alibaba is also holding in talks with private equity firms including Bain Capital, Blackstone Group LP, and Hony Capital to finance the remaining US$500 million.