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August 04, 2015 3:32 PM ET

Capital Markets

Company Overview of China Investment Corporation

Company Overview

China Investment Corporation is a sovereign wealth fund of the Government of China. The firm was established with the issuance of special bonds by the Ministry of Finance. It manages a part of the country’s foreign exchange reserves. The firm invests in the public equity, fixed income markets, and alternative assets in both developed and emerging markets. It seeks to make alternative investments in hedge funds, private equity, commodities, and real estates. The firm seeks to make fund of funds investments in private equity and hedge funds. It also considers direct investments in logistics, healthcare and telecom. The firm invests in the recapitalization of domestic financial institutions. It...

New Poly Plaza

1 Chaoyangmen Beidajie

Dongcheng District

Beijing,  100010

China

Founded in 2007

Phone:

86 10 8409 6277

Fax:

86 10 6408 6908

Key Executives for China Investment Corporation

Chief Executive Officer, Chairman, and Member of Executive Committee
Age: 55
President of CIC International
Chief Information Technology Officer, Head of Investment Operations, and Member of Executive Committee
Managing Director and Head of Special Investments
Managing Director, and Investment Manager
Compensation as of Fiscal Year 2015.

China Investment Corporation Key Developments

China Investment Corporation Incorporates Wholly-Owned Foreign Direct Investment Subsidiary

China Investment Corporation (CIC) incorporated a wholly-owned foreign direct investment subsidiary with registered capital of USD 5 billion this January 20 and the subsidiary started operation on July 27. The subsidiary, the third wholly-owned arm under CIC, is planned an investment capital of USD 100 billion.

AusNet Lead Bidder For TransGrid

AusNet Services (ASX:AST) is the lead bidder for TransGrid but is leaving its options open on whether it will bid alongside its major shareholders, Singapore Power Ltd and State Grid Corporation of China, or with other parties. Tony Iannello, AusNet’s Director leading the board subcommittee considering a bid, said that AusNet's experience and track record in running similar assets in Victoria placed it well to put forward a "competitive and compelling bid" for TransGrid, the first business to be sold off in the NSW government's $30 billion "poles and wires" privatization. Expressions of interest in TransGrid are due on July 14, 2015. Deutsche Bank and UBS are advising on the sale. TransGrid is worth about $9 billion. State Grid, which owns 19.9% of AusNet, is understood to have been in discussions with other potential bidders including Macquarie Infrastructure and Real Assets, Inc. Other consortiums include one of Spark Infrastructure Group (ASX:SKI), Hastings Funds Management Limited and Canadian and Middle Eastern parties. Australian Super is in a separate group with Borealis Capital Corporation and Canada Pension Plan Investment Board, while Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038) is thought to be bidding alone. Other parties involved include China Southern Power Grid Co.,Ltd. with China Investment Corporation, and QIC Limited and IFM Investors Pty Ltd. "We believe foreign ownership will mean higher prices," said Steve Butler, NSW secretary of the Electrical Trades Union. Singapore Power and State Grid are being excluded from the work on the bid by AusNet and its adviser Citigroup until they decide whether they will participate in different groups. "We would dearly love them to support any bid that we put forward; what they decide to do is up to them," Tony Iannello said. He added: "We've had a lot of interest from a number of investors; given our strong operational capability it makes AusNet Services a prime target to lead any consortium. We're keeping our options open ... as we go through the bidding phase." Though he said AusNet could bid alone. "AusNet Services has got a very strong credit rating: We've got two major strategic investors and it has got access to a whole range of capital markets on the debt and equity side to be able to carry through on a bid," he said.

ENGIE and China Investment Corporation Sign on Memorandum of Understanding

On the occasion of Chinese Premier Li Keqiang's visit to France, Gerard Mestrallet, Chairman and CEO of ENGIE, signed a MOU with Ding Xuedong, Chairman and CEO of China Investment Corporation in Paris. Through their new agreement, ENGIE and CIC reinforce their cooperation in the following areas: Co-investment in large energy projects, particularly renewable energy projects in fast developing countries, Cooperation in new technologies and in energy efficiency fields, especially in China. The cooperation between ENGIE and CIC started in 2011. It was marked by the establishment of a fruitful shareholder relationship in ENGIE's exploration and production activities in which CIC holds a 30% ownership interest.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
August 3, 2015
Hangzhou Kuaizhi Technology Co., Ltd.
Merger/Acquisition
July 27, 2015
Investa Property Group., Nine Office Properties Portfolio in Sydney, Melbourne and Brisbane
Merger/Acquisition
July 13, 2015
Celsius Portfolio
 

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