Blackstone Group is a private equity company. They had their IPO in June 2007
Blackstone Group was China Investment Corporation's first investment. Blackstone released a statement announcing that that the fund will take a $3 billion stake in Blackstone’s IPO. Under the terms of the agreement, the Chinese investment company will own no more than a 10 percent interest. The fund also agreed that it would hold the stake for a minimum of 4 years. It can also not invest in any other private equity firms for one year. At the time the fund was named State Investment Company. It has lost around 30% of its initial value.
In late October 2008, it was announced that the CIC would invest up to 12.5% of the company.
The CIC holds their stake though its subsidiary Beijing Wonderful Investments.
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