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Investing.com -- China Investment Corporation (CIC), a Chinese sovereign investor, is planning to sell approximately $1 billion of its U.S. private equity (PE) investments.
The assets are currently held in funds managed by eight U.S. fund managers, including Blackstone (NYSE:BX) Inc and Carlyle Group (NASDAQ:CG), according to Reuters.
CIC has engaged Evercore, a U.S. investment bank, to advise on the sale. The goal is to complete the divestments by the end of June. However, the total value of the assets and the sale deadline could potentially change, based on market interest and pricing.
The decision to sell these assets was reportedly initiated in late 2024. CIC began discussions with advisers and asset managers as part of a strategy to optimize its investment portfolio.
The $1 billion in assets were originally invested in PE funds in 2016 and 2017, and are now approaching the end of their investment cycle.
The decision to sell comes amidst increasing geopolitical and trade tensions, particularly between Beijing and Washington. These tensions have led to market instability and uncertainty.
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