The Public Investment Fund (PIF) of Saudi Arabia teamed up with U.S. private equity giant Blackstone Group yesterday to launch a new investment vehicle dedicated to infrastructure development, primarily in the U.S. Anchored by a US$20 billion contribution by PIF, the two plan to raise another US$20 billion from other investors and leverage up their dry powder to US$100 billion.
With U.S. President Donald Trump promising to unveil a US$1 trillion infrastructure plan later this year, this type of joint-fund approach seems perfect for China's sovereign wealth fund, the US$814 billion-under-management China Investment Corporation (CIC).
CIC is already eyeing additional invests in the U.S., especially in the country's infrastructure revival. With the opening of a representative office in New York city last Friday, Tu Guangshao, vice chairman and ...
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