Entries tagged "CIC"
Chinese sovereign wealth fund China Investment Corp. is aiming to capitalize on the drop in valuations to load up on investments in private equity and hedge fund stakes.
While the Committee on Foreign Investment in the United States may soon scrutinize every sovereign wealth fund investment, other intergovernmental organizations have other demands of sovereign funds, leaving some with a bitter taste. CBS' "60 Minutes" touched upon some of these issues in an interview with China Investment Corp.’s new president, Gao Xiqing. CIC, which is a sovereign fund formed by the Beijing governing council in 2007, has since acquired a $5 billion stake in ailing Morgan Stanley....
The word Wednesday was that an unnamed Chinese bank was taking a look at Dresdner Kleinwort, the investment banking unit of Dresdner Bank. Now, German newspaper Sueddeutsche Zeitung said that the bidder is the sovereign wealth fund Chinese Investment Corp. Ltd. and is in fact interested in all of Dresdner. Allianz AG recently restructured its banking operations leading to speculation that Dresdner Kleinwort would go on the auction block. ...
