CIC Offers a Glimpse Into U.S. Holdings- Wall Street Journal

BEIJING—A new filing by China Investment Corp. on its stakes in U.S.-listed companies sheds light on the $300 billion sovereign-wealth fund’s investment practices but includes relatively few large holdings in the world’s biggest economy.

In a report to the U.S. Securities and Exchange Commission, CIC said it owned equity stakes valued at a combined $9.63 billion in more than 60 U.S.-listed companies at of the end of last year. The holdings include small stakes in a number of companies CIC wasn’t previously known to have bought into, such as American International Group Inc., Apple Inc., and News Corp., which owns The Wall Street Journal.

The CIC report, filed Friday, marks the first time the fund—one of the world’s most-watched investors—has listed its holdings in such detail. The disclosure isn’t a comprehensive list of CIC’s U.S. holdings; it omits certain publicly announced investments, such as the fund’s roughly 10% stake in private-equity firm Blackstone Group LP, which it bought for $3 billion in 2007 and added to in 2008.

http://online.wsj.com/article/SB10001424052748703427704575052303975503216.html?mod=rss_about_china

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