Chinese sovereign wealth fund China Investment Corporation will sell about $1 billion of its US-based private equity investment portfolio in the secondary market, Reuters reported, citing two people with knowledge of the matter.
Eight US-based fund managers, including Blackstone and Carlyle, are managing the assets held in a number of funds, according to Reuters.
Evercore will be the adviser for the sale, the report said.
The deadline for the sale and its final value are still subject to change, depending on market conditions, according to Reuters.
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