China to buy US assets via GM pension

China’s State Administration of Foreign Exchange (SAFE) will pay between $1.5-2.5 bln for GM’s positions in blue chip equity funds managed by the likes of Carlyle group, Blackstone and CVC.

The deal with SAFE, which has not yet been finalised, is secretive even by the discreet standards of private equity. “It was very below the radar,” said one investment adviser. “There is clearly concern about selling US assets to China, especially in an election year.”

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