CIC invests $2 billion in Goldman fund, others: sources
China Investment Corp, the $200 billion sovereign fund, is set to pour a total of $2 billion into three U.S. distressed asset-focused funds, including one managed by Goldman Sachs, sources said on Tuesday.
CIC plans to invest around $600-$700 million each in three distressed asset investment funds, another managed by U.S. investment firm Oaktree Capital, said the sources briefed on CIC’s plan.
The name of the third distressed asset fund was unknown but the sources noted that all three funds to be invested by CIC would focus on U.S. distressed assets ranging from real estate to infrastructure.
Officials at CIC, Goldman and Oaktree all declined to comment. The sources declined to be identified as the fund-raising process was confidential.
(Reporting by George Chen; Additional reporting by Michael Flaherty, Editing by Jacqueline Wong)