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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 2016 11 236 M
EBIT 2016 4 660 M
Net income 2016 3 168 M
Debt 2016 -
Yield 2016 2,43%
P/E ratio 2016 19,77
P/E ratio 2017 17,11
Capi. / Sales 2016 5,44x
Capi. / Sales 2017 4,94x
Capitalization 61 133 M
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Number of Analysts 16
Average target price 400 $
Spread / Average Target 6,1%
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NameTitle
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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