Shanghai Daily September 30, 2009

China Investment Corp, the US$200 billion sovereign fund, is set to pour a total of US$2 billion into three United States distressed asset-focused funds, including one managed by Goldman Sachs, sources said yesterday.

CIC plans to invest up to US$700 million each in the three funds. Another is managed by the US investment firm Oaktree Capital but there were not details of the third.

The sources said all three funds would focus on US distressed assets ranging from real estate to infrastructure.