Diageo’s Latest Investor Signals Future Growth in China

Dear Client:China Investment Corp. (which is the country’s sovereign wealth fund) has acquired a 1.1% stake in Diageo worth $365 million, making it the ninth-largest investor in the firm, the Financial Times reported. After the news came out shares rose 2.1% in London today. CIC manages $200bn of the country's $2,132bn in foreign exchange reserves. The company faced criticism after making early high-profile investments in Blackstone and Morgan Stanley, but has recently bought stakes in a Canadian miner, an Australian