China's sovereign fund to invest $1 billion in L.A. firm

Discussion in 'Wall St. News' started by ASusilovic, Sep 27, 2009.

  1. NEW YORK (MarketWatch) -- China's sovereign-wealth fund, China Investment Corp., has committed to invest about $1 billion with Los Angeles-based Oaktree Capital Management LP, according to a media report Saturday.

    Oaktree is expected to invest CIC's money in distressed debt and other fixed-income assets, The Wall Street Journal reported in its online edition, citing unnamed sources.

    The firm, which oversees more than $60 billion in assets, makes investments ranging from the debt of battered casino operators to entire companies.

    Oaktree was among the nine big asset-management firms chosen by the Treasury Department as fund managers for the Public-Private Investment Partnership, or PPIP, the government program designed to rid banks of toxic assets.

    The CIC, established in September 2007, has deployed portions of its $300 billion portfolio in deals as diverse as natural resources and real estate. It said on Tuesday that it has paid $850 million for a 15% stake in Noble Group Ltd., the Singapore-listed commodity-logistics company. See full story.

    China is taking over the US of A. Slowly but surely. Funny enough take over currency is USD - "IN GOD WE TRUST"...
  2. If that god is any good will produce some kind of miracle.

    Print 99999999999999999999999999999999.10 USD ? Would that convince anyone that ever doubted in power of that god ?
  3. When foreign investors get excited about foreign debt.......yada, yada, yada. :cool: