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China's government to acquire stake in Blackstone22/05/2007. Source: AltAssets. 
 The State Investment Company in China, a foreign exchange investment company that will soon be established by the Chinese government, has agreed to make a $3bn investment in The Blackstone Group in the form of non-voting common units.
The purchase price per common unit will be 95.5 per cent of the public offering price in Blackstone's planned IPO.
The number of non-voting common units purchased by the State Investment Company will be reduced if necessary so that the State Investment Company's equity interest in Blackstone immediately following the planned IPO remains under ten per cent, according to a statement.
Blackstone is one of the largest independent alternative asset managers in the world. Its alternative asset management businesses include the management of corporate private equity funds, real estate opportunity funds, funds of hedge funds, mezzanine funds, senior debt funds, proprietary hedge funds and closed-end mutual funds.
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