China’s wealth fund pulls plug on US$1 billion private equity sale
June 25, 2025
US and Chinese officials have hammered out a framework to de-escalate tensions, reducing pressure on CIC to divest.
[BEIJING] China’s sovereign wealth fund has pulled its planned sale of US$1 billion in US fund stakes tied to some of the biggest names in private equity.
Earlier this year, China Investment Corporation (CIC) looked to offload fund positions with firms including Carlyle Group, KKR, and TPG to reduce its US exposure. Months later, it has signalled to would-be buyers and managers that it’s no longer selling the stakes, according to sources familiar with the deal who asked not to be identified discussing private matters. READ MORE