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SHANGHAI — China's sovereign wealth fund was among the major investors in Visa Inc.'s $19.1 billion initial public offering this month, the financial magazine Caijing reported Tuesday.
China Investment Corp., or CIC, invested more than $100 million as a strategic investor in the share offering, Caijing said, citing unnamed sources.
A China Investment Corp. representative refused comment on the report.
Major insurer China Life Insurance says it took a $300 million stake in the Visa's IPO, the biggest in U.S. history.
That investment showed a gain of about $108 million thanks to a 36 percent rise in Visa's share price since it debuted in New York on March 19.
CIC recently paid $5 billion for what will become, by 2010, a 9.9 percent stake in investment bank Morgan Stanley. In May 2007, it agreed to pay $3 billion for a 10 percent stake in U.S. private equity firm Blackstone Group LP.
