China fund gears up for $30bn drive
By Jamil Anderlini in Beijing
Published: February 10 2008 22:19 | Last updated: February 10 2008 22:19
China’s $200bn sovereign wealth fund is preparing to grant mandates of as much as $30bn to international fund managers and is expected to receive another injection of capital for its offshore investments from the country’s $1,530bn in foreign exchange reserves.
China Investment Corp is about to notify shortlisted candidates from more than 100 applicants hoping to manage its investments in global equity markets and is planning to put about $4bn into a fund managed by JC Flowers, the US private equity firm, that will target ailing financial institutions.
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