SAFE Investment Company to Possibly Buy PE Stakes from GM’s Pension Plan

A number of major American corporate and public pension plans are trying to exit out of investments in their private equity portfolios. The SAFE Investment Company which is part of China’s State Administration of Foreign Exchange may pay between US$ 1.5 billion to US$ 2 billion for General Motors’ pension plan positions in a number of private equity funds. The State Administration of Foreign Exchange manages China’s US$ 3 trillion in foreign exchange reserves.

General Motors’ pension plan is estimated to be underfunded by about US$ 25 billion.

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