China Investment Corp (CIC), the country’s sovereign wealth fund, has disclosed that it owned equity stakes worth a combined US$9.63 billion in more than 60 US-listed companies at the end of last year. Information on the fund’s holdings appeared in a filing to the US Securities and Exchange Commission on Friday, the Wall Street Journal reported. The filing does not mention CIC’s 10% stake in private equity firm Blackstone Group, bought for US$3 billion in 2007 and added to in 2008, while only a portion of the fund’s total holding in Morgan Stanley is cited. However, some previously unknown investments were disclosed, including a US$700 million stake in Blackrock and smaller holdings in companies such as AIG, Apple and News Corp. The largest investment that appears in the filing is a US$3.54 billion stake in Canadian miner Teck Resources. Nearly a quarter of the US$9.63 billion total is in exchange-traded funds.
You must log in to post a comment.