Marketwatch – China’s sovereign wealth fund has selected Morgan Stanley and Blackstone Group LP to oversee hundreds of millions of dollars in new investments, The Wall Street Journal reported Friday.
The $200 billion China Investment Corp. has finalized an additional allocation of $500 million to Blackstone’s /quotes/comstock/13*!bx/quotes/nls/bx (BX 11.42, +0.46, +4.20%) fund-of-funds unit, and an additional allocation of money has been earmarked for investment through Morgan Stanley’s /quotes/comstock/13*!ms/quotes/nls/ms (MS 28.31, +1.15, +4.23%) asset-management unit, according to the report, which cited people familiar with the situation.
The sovereign wealth fund is also in discussions to potentially invest billions more in hedge funds, possibly doling out money directly to managers rather than using a fund-of-funds vehicles, the report said.
