China’s CIC buys stake in US company
HONG KONG - Reuters
China Investment Corp. (CIC) has acquired a minority stake in Washington-based asset manager EIG Global Energy Partners, in the latest energy-related investment from China’s $410 billion sovereign wealth fund.Asset manager EIG, which invests only in energy, resources and related infrastructure, did not disclose the size or value of the stake.
In December, CIC paid $240 million for a 25 percent in South Africa’s Shanduka Group, an unlisted investment holding company with assets that include coal operations.
The Shanduka deal followed CIC’s purchase of a $4.2 billion stake in a gas exploration unit of French utility GDF Suez.
CIC was established in 2007 to invest China’s vast foreign exchange reserves.
The Chinese giant has a stake in global private equity fund Blackstone Group and in January took an 8.68 percent stake in U.K. utility Thames Water.
