Reuters has an interesting Fact Box this morning about China’s Sovereign Wealth Fund:
BEIJING, Dec 19 (Reuters) – China’s sovereign wealth fund, China Investment Corporation (CIC), made its biggest investment to date on Wednesday, taking up to a 9.9 percent stake in Morgan Stanley for about $5 billion.
Here are some facts about the fund:
* CIC has total initial capital of $200 billion. The process of injecting this capital has just been completed, the Finance Ministry said on Wednesday.
* CIC’s first investment, a nearly 10 percent stake in Blackstone Group that cost $3 billion, has lost more than 30 percent of its value since the private equity giant’s IPO in June.
* Its second investment, for about $10 million, was in the Hong Kong IPO of China Railway 601390.SS0390.HK.
* A British broker, after combing through shareholder registers, said in late July that CIC had also bought a stake in BG Group, a British gas company.
See the full piece here.