In 2009, CIC purchased a 3% stake in BlackRock for approximately $1bn at a discount to trading price of $178.5, as reported by the Financial Times.
Meanwhile, both firms still remain committed to work together for the launch of a China-focused investment fund, which is planned to begin trading in 2013, as reported by the news agency.
BlackRock was largely uninfluenced from global sovereign crisis, which saddled the world’s largest financial institutions, as the firm had no investments in proprietary trading.
