Goldman Sachs has acquired a number of US and British companies in critical industries with a fund created with financing from the Chinese government. That included companies engaged in cybersecurity, as well as providing services to the British government, the Financial Times reported, citing sources.
According to sources familiar with the fund’s operations, seven deals have been struck involving $2.5 billion in direct investment from a partnership fund established with the participation of China’s sovereign wealth fund, China Investment Corporation.
This has allowed China to create indirect assets in companies operating in critical industries.
It is noted that the deals included a startup that tracks global supply chains, a cloud computing consultancy, a drug testing company and a maker of systems used to run artificial intelligence systems, drones and batteries for electric cars.