China Investment Corp and Blackstone Team Up in Japan Property Purchase
February 20, 2011 at 17:14 PM EST
China Investment Corp, the country’s main sovereign wealth fund, has teamed up with The Blackstone Group (BX) to buy a Japanese property loan portfolio from Morgan Stanley (MS) at a steep discount to its face value of $1.1 billion, according to sources familiar with the matter. CIC and Blackstone paid about 35 cents on the [...]