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Goldman Sachs is reported to have used a fund set up with Chinese state money to buy a series of US and UK companies, including one with a cyber security business that provides services to the British government, even as tensions rise between Beijing and the west.

The Financial Times reported that Goldman Sachs struck seven deals using cash from a $2.5bn private equity “partnership fund” it set up in 2017 with the sovereign wealth fund China Investment Corporation.

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