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BlackRock, China Investment Corp Eye Launch Of China-Focused Fund - FT

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04/26/2012 | 02:05am CET

China Investment Corp. and Blackrock Inc. (>> BlackRock, Inc.) plans to launch a joint China-focused investment fund to be run by Liu Erfei, currently chairman of Bank of America Merrill Lynch's China operations, the Financial Times reported on its website Wednesday, citing people familiar with the matter.

Senior CIC official Hu Bing told a sovereign wealth funds and pension funds conference in Beijing that one purpose of the fund was to invest in China itself, but others familiar with the matter said the primary focus would be to invest in companies outside China with technologies or resources useful to China, the FT reported.

The fund could co-invest with Chinese companies making foreign acquisitions or taking stakes in the Chinese operations of multinationals, one of the people said, the FT reported.

Blackrock and Liu both declined comment, the FT said.

Full story: http://www.ft.com/intl/cms/s/0/076adb32-8e96-11e1-aa12-00144feab49a.html#axzz1t5uy9KxE.

Stocks mentioned in the article : BlackRock, Inc.
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Financials ($)
Sales 2017 11 922 M
EBIT 2017 5 128 M
Net income 2017 3 462 M
Debt 2017 -
Yield 2017 2,55%
P/E ratio 2017 18,50
P/E ratio 2018 16,06
Capi. / Sales 2017 5,35x
Capi. / Sales 2018 4,91x
Capitalization 63 733 M
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Average target price 424 $
Spread / Average Target 8,5%
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Laurence Douglas Fink Chairman & Chief Executive Officer
Robert Steven Kapito President & Non-Independent Director
Robert L. Goldstein Chief Operating Officer & Senior Managing Director
Gary S. Shedlin Chief Financial Officer & Senior Managing Director
Derek N. Stein Global Head-Business Operations & Technology
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