Goldman Sachs & CIC Close $1.5 Billion For Cooperation Fund To Invest In American Companies…
The Goldman Sachs Group, Inc. (GS) is one of the world’s leading investment bankers & also a securities and investment management firm that offers a wide range of financial services with a diversified client base.
Goldman Sachs recently announced the first close of $1.5 billion of the China-US Industrial Cooperation Partnership, L.P., also known as “the Cooperation Fund”. The Cooperation Fund has an authorization to invest in American companies involved in the industrial, manufacturing, consumer and healthcare industries, along with others that may have or have the potential to develop a material business connection to China. The China Investment Corporation or CIC is a mainstay investor in the Cooperation Fund.
Through the Merchant Banking Division, The Goldman Sachs Group, Inc. sponsors and acts as the investment manager for the Cooperation Fund. As an anchor investor, CIC’s role is to give support to Goldman Sachs to name possible value-added opportunities in China for the portfolio companies of the Cooperation Fund, but CIC does not provide advice on investments to the Cooperation Fund.
The US-China Business Summit that was held in April 2018 and hosted by Goldman Sachs and CIC brought together government officials from and senior business leaders from both China and the United States to deliberate the opportunities available to build and strengthen the commercial investment ties between both countries. The discussion was centered around the increased and reciprocal trade and investment relations between China and the United States that will allow businesses to grow, open new markets, and create more jobs.
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