China Investment Corp, the country's sovereign wealth fund, is in talks to finalize the sale of about $1 billion in US private equity stakes following a temporary pause in the deal, Bloomberg said Friday, citing people familiar in the matter.
Funds on sale include those managed by Carlyle Group (CG) Hellman & Friedman, and Welsh Carson Anderson & Stowe, according to the people, the report said.
Earlier in the year, China Investment Corp moved to offload $1 billion in fund positions with firms including Carlyle Group, KKR (KKR), and TPG (TPG), but later said it was no longer selling the stakes, Bloomberg reported.
Carlyle Group, KKR, and TPG did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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