China Investment Corp, the country’s biggest sovereign wealth fund, is poised to invest $500m in a Blackstone Group hedge-fund unit, reports the WSJ. A hefty injection from China would signal that some big money is stepping off the sidelines as global markets stabilise. CIC is considering investing in a number of hedge funds, as CIC chairman Lou Jiwei is concerned his fund may miss opportunities near the bottom of the market, said people close to the fund.

This entry was posted by Gwen Robinson on Friday, June 19th, 2009 at 5:09 and is filed under Capital markets, Private equity. Tagged with blackstone, CIC. Edit this entry.