China’s CIC buys stake in US company
HONG KONG - ReutersChina 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.