China’s sovereign wealth fund has divested its holdings in US private equity powerhouse Blackstone. Since there has been little elaboration from either party, analysts have been left to speculate on the reasons.
China Investment Corporation (CIC)is a sovereign wealth fund responsible for managing part of China's foreign exchange reserves. It was established in 2007 with approximately US$200 billion of assets under management. In June 2013 a CIC official said total assets had grown to US$500 billion in 2012 from US$482 billion in 2011.