CIC Sells Most of its BlackRock Stake

September 19, 2012

On September 2, 2012, Financial Times reported that sovereign wealth fund China Investment Corp had sold most of its approximate 3% stake in BlackRock. 


On September 2, 2012, Financial Times reported that China Investment Corp had sold most of its stake in BlackRock.  CIC, a sovereign wealth fund, reportedly shed its BlackRock shares as part of a wider strategy to trim its holdings in global financial institutions.  CIC had purchased just under 3% of BlackRock‚Äôs shares in 2009 at a discount, when BlackRock agreed to buy Barclays Global Investors.  CIC has gradually sold the shares at a profit in recent months.  BlackRock and CIC are reportedly still establishing a China-focused investment fund, which is expected to begin trading next year. 

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Investment Manager Strategic Investments, Transactions