HONG KONG -- China Investment Corp., the sovereign wealth fund that invested over $3 billion in Blackstone Group LP, has agreed to buy a 40% stake in China-focused alternative asset management firm Citic Capital Holdings Ltd. for an undisclosed price, according to a letter sent by Citic Capital to investors.
Citic Capital manages around $2 billion through a range of alternative investment platforms including its flagship China buyout fund series.
Beijing-based CIC, which manages $200 billion in capital drawn from China's foreign exchange ...
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