News & Analysis

CIC, Blackstone unveiled as Greentown investors

Sovereign wealth fund China Investment Corporation and private equity firm the Blackstone Group have emerged as the investors in a joint venture with troubled property developer Greentown China, according to a source close to the matter.

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The Blackstone Group has teamed up with the China Investment Corporation (CIC) to engage in joint property development in China, according to a source close to the firm. The joint venture is with indebted developer Greentown China and one of its subsidiaries, Greentown Sunshine Investment.

CIC, via its own subsidiary, will be committing RMB 1.2