China's CIC buys minority stake in EIG Global
- By Yan Pei
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E-mail China.org.cn, February 3, 2012
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EIG Global Energy Partners has sold a minority stake to China Investment Corporation. [File photo] |
![EIG Global Energy Partners has sold a minority stake to China Investment Corporation. [File photo]](http://images.china.cn/attachement/jpg/site1007/20120203/001aa0ba5c851095b5f60f.jpg "EIG Global Energy Partners has sold a minority stake to China Investment Corporation. [File photo]")
China Investment Corporation (CIC), the country's sovereign wealth fund, has bought a minority stake in U.S. asset management company EIG Global Energy Partners, the latter announced Thursday.
EIG did not disclose the size or value of the transaction. The Washington-based company invests in energy, resources and related infrastructure.
The deal was the latest investment by CIC. Last December, the US$410-billion sovereign wealth fund acquired South Africa's Shanduka Group for US$240 million. Before that, CIC invested US$4.2 billion in a natural gas exploration arm of French utility giant GDF Suez.
EIG managed US$9.5 billion in assets by November 2011. The company has invested over US$13 billion in the energy sector during its 30 years of operation.
Goldman Sachs Group was EIG's financing advisor of its deal with CIC.
China's business press carried the story above on Friday.
Contact the writer of this story at: yanp@china.org.cn.
