China's Wealth Fund Pulls Plug on $1 Billion Private Equity Sale
China's sovereign wealth fund has pulled its planned sale of $1 billion in US fund stakes tied to some of the biggest names in private equity.
Earlier this year, China Investment Corp. looked to offload fund positions with firms including Carlyle Group Inc., KKR & Co., and TPG Inc. to reduce its US exposure. Months later, it has signaled to would-be buyers and managers that it's no longer selling the stakes, according to people familiar with the deal who asked not to be identified discussing private matters.
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