CIC
CIC loses real estate head after just two months
Patrick Wu, head of real estate at China Investment Corp. (CIC), resigned last week after just two months in the job. It follows others changes at senior management level in the sovereign wealth fund's real estate division.
CalSTRS considers separate accounts strategy
California State Teachers’ Retirement System (CalSTRS) is considering making separate account commitments to private equity firms. A similar strategy has already been employed by other pension funds like Texas Teachers’ Retirement System and New Jersey...
CIC, Sinopec commit $300m to Sunshine Oilsands IPO
China Investment Corp (CIC) and China Petrochemical Corp. (Sinopec) are among three cornerstone investors to pledge $350 million to Sunshine Oilsands' Hong Kong listing. The news comes a few days after the company said it would postpone its IPO to allow...
CIC-backed EIG shuns US to pursue Hong Kong listing
EIG Global Energy Partners, the US-based energy sector specialist, will delist its investment vehicle from Goldman Sachs’ electronic platform and list in Hong Kong.
CIC takes minority stake in EIG Global
China Investment Corp. (CIC), the $410 billion Chinese sovereign wealth fund, has bought a minority stake in US-based asset management firm EIG Global Energy Partners.
CEC to raise $300m China fund
Hong Kong-based private equity firm China Enterprise Capital Management (CEC) is said to be planning to raise up to $300 million for a third fund which will focus on consumer deals in mainland China.
NSSF considers investments in foreign PE funds
China’s National Social Security Fund (NSSF) is looking for investment opportunities in foreign private equity firms as part of efforts to boost returns and broaden its exposure to overseas markets.
CIC buys 25% stake in South Africa’s Shanduka Group
China Investment Corp. (CIC) has paid ZAR2 billion ($245 million) for a 25% stake in South African company Shanduka Group. The sovereign wealth fund will acquire shares from exiting investors Old Mutual Private Equity and Investec.
CIC, Greentown partner for real estate JV
China Investment Corporation (CIC) has teamed with domestic property developer Greentown Group to launch an RMB2 billion ($313.3 million) real estate joint venture that will build office buildings for local government bodies.
CIC plans to invest in Western infrastructure projects
China Investment Corp. (CIC) will commit funds to improving infrastructure in developed countries, starting with the UK, where it plans to team up with fund managers or participate through public-private partnerships.
Asia’s sovereigns: Partners or competitors?
Asian sovereign wealth funds are increasing their exposure to private equity firms globally. They have one eye on returns and another on beating GPs at their own game
CIC joins Blackstone in RBS commercial real estate deal
China Investment Corp. (CIC) has agreed to take a stake in Royal Bank of Scotland’s $1.4 billion commercial real estate portfolio alongside The Blackstone Group. They will each take a 12.5% stake in the portfolio, worth a combined $100 million, with...
CIC commits $1b to Russian sovereign wealth fund
China Investment Corp. (CIC) will invest $1 billion in a joint Russia-China Investment Fund that will operate in partnership with the Russian Direct Investment Fund (RDIF), Moscow’s debut sovereign wealth fund.
CIC’s Central Huijin boosts China bank stakes
Central Huijin Investment, the unit of China Investment Corp. (CIC) responsible for holdings in the country’s major state-owned banks, has been buying shares in these lenders to boost valuations. It took similar action in September 2008 as credit markets...
Russia sovereign wealth fund in talks with potential Chinese partner
Russia Direct Investment Fund (RDIF), the country’s new sovereign wealth fund, is in talks with a Chinese group about making joint investments, with details of a partnership potentially to be announced in October.
CIC in talks over potential investment in Northern Rock
China Investment Corp. (CIC) is being courted by British entrepreneur Sir Richard Branson as a potential partner for Virgin Money in a bid for UK lender Northern Rock. The bank, which received a GBP1.4 billion government bailout in 2008, is tipped to...
CIC, KIC chairmen named to high-profile RDIF advisory board
The chairman of China Investment Corp. (CIC), Lou Jiwei, has been named to the international advisory board of the Russia Direct Investment Fund (RDIF). Choi Chong Suk, chairman of Korea Investment Corp. (KIC), will also serve on the board alongside Bader...
Temasek, QIA back Citic Securities’ $1.9b IPO
Temasek Holdings and the Kuwait Investment Authority (KIA) are among seven cornerstone investors that have together committed $850 million to Citic Securities’ Hong Kong IPO. The company, China’s largest brokerage by market value, is seeking to raise...
Abu Dhabi Investment Authority to boost PE exposure
The Abu Dhabi Investment Authority (ADIA) is scaling up its private equity activities with a view to doubling its headcount in this area, The Al Arabiya News reported, citing sources familiar with the situation. The sovereign wealth fund currently has...
Asia Pacific SWFs, public pension funds hold 25% of global AUM
Asia Pacific sovereign wealth funds and public sector pension funds now account for $3.2 trillion in assets under management, 25% of the global total.
China, India lead global emerging markets for PE activity
India and China accounted for 54% of private equity transactions completed in emerging countries in the first half of 2011, according to a report by the Emerging Market Private Equity Association.
Asian LPs and the US Debt Crisis
There has been a shift in the investor base of major private equity funds in recent years as Asia evolves from being just an investment destination to becoming a region for fundraising. Sovereign wealth funds, of course, are leading the way with the substantial...
New China Life targets $4b IPO
New China Life Insurance, which is part-owned by several private equity interests, plans to raise up to $4 billion through a dual IPO in Hong Kong and Shanghai.
CIC considers significant minority stake in GDF Suez
China Investment Corporation (CIC) is in negotiations to purchase a significant minority stake in French-based energy provider GDF Suez's exploration and production business for up to $4.2 billion, The Financial Times reported.