China's wealth fund may buy up U.S. property: WSJExplore related topics Asia Pacific BlackRock Inc Invesco Ltd Story Quotes Comments Screener (72) Alert Email Print ShareBy MarketWatch LOS ANGELES (MarketWatch) -- China's sovereign-wealth fund is looking to invest in U.S. real estate, possibly including distressed mortgage securities made available through a U.S.-government program, The Wall Street Journal reported Tuesday, citing people familiar with the matter.
In recent weeks, officials from China Investment Corp. have held talks with BlackRock Inc. /quotes/comstock/13*!blk/quotes/nls/blk (BLK 207.84, -0.36, -0.17%) , Invesco Ltd. /quotes/comstock/13*!ivz/quotes/nls/ivz (IVZ 22.94, -0.05, -0.22%) , Lone Star Funds and other U.S. private-equity fund managers about investment opportunities in the property assets, the report said. See full WSJ.com report.
The report also echoed previous news accounts that CIC is preparing to invest in U.S. mortgage securities under the U.S. Treasury-backed Public-Private Investment Plan, in which the government provides financing to entice investors into buying so-called toxic mortgage securities. See full story on CIC plan to buy mortgage paper.
CIC President Gao Xiqing told a Japanese newspaper late last month that the fund plans a massive, ten-fold expansion of its overseas investment this year. See full story on CIC investment plans.
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