It has been reported that the China Investment Corp. or the CIC has actually authorized three managers, which actually includes the Goldman Sachs Group Inc., to go ahead and make a good investment on the secondary market of private - equity. The amount to be invested is around $1.5 billion.

China's sovereign wealth fund of around $300 billion is to authorize the sale of the holdings of one private - equity fund to that of another. The mandate from the CIC was given to the selected three managers in the latter half of the previous year. This is actually a major part of the efforts of CIC in its attempt to diversify its portfolio in terms of investment.

The news was announced publicly for the first time on Thursday in the Financial Times. It was also reported that each of the three managers were authorized to maintain $500 million. The firm was formed in the year 2007 and then it bought a stake in the Blackstone LP which was worth $3 billion. It is a notable fact that the firm has a lot of investments in many listed companies.