August 31, 2016 10:19 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 invests in consumer and industrial sectors. It also considers direct investments in logistics, healthcare and telecom. The firm invests in the recapita...

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: 56
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 2016.

China Investment Corporation Key Developments

National Grid Reportedly To Start Auction For U.K. Gas Network Stake

National Grid plc (LSE:NG.) has started an auction to sell a controlling stake in its domestic gas network that could value the business at more than 10 billion pounds, people with knowledge of the matter said. National Grid, which is selling 51% of its four regional gas distribution networks, has sent information on the business to potential buyers, according to the people. The company has asked for first-round bids to be submitted by late September 2016, the people said, asking not to be named because the deliberations are private. Canada Pension Plan Investment Board (CPPIB) is considering joining a consortium of Canadian investors and Middle Eastern sovereign wealth funds interested in the assets, one of the people said. Another group including Allianz SE (DB:ALV) and Amber Infrastructure Limited may also bid, the people said. Chinese investors, including China Investment Corporation may also join groups pursuing the assets, they said. Talks with potential bidders are ongoing, and the final makeup of the groups bidding could still change, according to the people. Representatives for Allianz, Macquarie, CPPIB, Amber Infrastructure and National Grid declined to comment. A Beijing-based spokeswoman for CIC couldn’t immediately comment.

Mirvac In Talks With CIC For Property Stake Sale

Mirvac Group (ASX:MGR) is in talks with China Investment Corporation (CIC) to divest 50% per cent stake in 477 Collins Street in Melbourne. However, Mirvac must first run the potential deal past the pre-emptive rights holder, Aviva plc (LSE:AV.). Sources stated that Aviva is unlikely to take up its rights, leaving CIC in pole position.

Investors Reportedly Eye Aircraft Assets From CIT Group

CIT Group Inc. (NYSE:CIT) is reportedly seeking to sell its aircraft leasing assets by inviting more than a dozen entities to consider bidding. The bidders include Hainan Airlines Co., Ltd. (SHSE:900945) (HNA), ORIX Corporation (TSE:8591), Industrial and Commercial Bank of China Limited (SEHK:1398), ICBC Financial Leasing Co., Ltd., China Investment Corporation, CDB Leasing Co., Ltd., Century Tokyo Leasing Corporation (TSE:8439), sources familiar with the matter said. The sale could fetch between $3 billion to $4 billion. A spokeswoman from HNA said the company was not aware of a possible bid. Orix, Century Tokyo Leasing and ICBC Leasing, a unit of ICBC, declined to comment. CIC did not comment. CDB Leasing could not be reached for comment.

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Office Tower at 1 New York Plaza in the Financial District
 

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