WASHINGTON: China Investment Corp (CIC), the sovereign wealth fund that controls US$814bil in assets, is betting on US real estate by investing in a commercial real estate lender formed by the money management firm TPG.
In conjunction with last week’s initial public offering of TPG RE Finance Trust Inc, CIC disclosed in a US regulatory filing that it holds about a 15.5% stake in the lender through affiliate Flourish Investment Corp.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!