Blackstone Group
From Taighde
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.
| Date | Number of shares | Price per share | Percent | Cost |
|---|---|---|---|---|
| 5/20/2007 | 101,334,234 | $29.61 | 10% | $2,999,999,998 |
Joint ventures
Blackstone and the CIC have teamed up with several investments. These include the CIC-Blackstone Japanese property portfolio, CIC-Greentown-Blackstone property JV.
