Goldman Sachs Buys US & UK Companies Using Chinese Money?

<p>&nbsp;Goldman Sachs was found to have set up a fund using Chinese government money to acquire US and British based companies.</p><p><br /></p><p>It includes companies involved in cyber security services for the UK government, according to a Financial Times report.</p><p><br /></p><p>It is understood that the company has signed seven transactions through a $2.5 billion private equity 'partnership fund' created with the China Investment Corporation (CIC) in 2017.</p><p><br /></p><p>**CIC is a sovereign wealth fund controlled by the Chinese government.</p><p><br /></p><p><br /></p><p>The deal spans a range of sectors including global supply chain tracking, cloud computing, drug testing, manufacturing systems for AI, drones and electric vehicle batteries.</p><p><br /></p><p>Although Goldman said it had made investments in the companies, it did not explicitly disclose that the funds contributed to the transaction were also partly from Beijing.</p><p><br /></p><p>Despite rising tensions between China and the US, Goldman Sachs and CIC's cooperation has existed since the era of former President Trump's administration in 2017.</p><p><br /></p><p>At the time, it said CIC would be a 'lead investor' in the fund, as well as play an active role in helping the acquired companies grow in China.</p>