From Reuters via Yahoo.com:
The steep paper losses that China has suffered on its $3 billion investment in Blackstone Group will not deter its embryonic sovereign wealth fund from making further investments in private equity and hedge funds, according to a senior official.
Shares in Blackstone closed on Friday at $24.08, down 22.3 percent from its $31 debut price in June. The poor performance has sparked criticism of the investment within China, which bought its non-voting share at a 4.5 percent discount and agreed to hold onto it for at least four years. [Full Text]
