Goldman, Ardian Bought CIC’s $1 Billion US Private Equity Stake

Goldman Sachs Group Inc. and Ardian SAS were on the other side of a $1 billion US private equity sale by China’s sovereign wealth fund, according to people familiar with the matter.

The US firm’s asset management arm and the Paris-based investment firm emerged as the winning bidders late last year after state giant China Investment Corp. sought to reduce its exposure to private markets, the people said, requesting not to be named because the information is private. Ardian acquired the stakes at a double-digit discount, while Goldman did so at single digits, according to one of the people.

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