May 03, 2016 7:41 AM 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: 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

Many Buyers Emerge For Chevron Assets

China Investment Corporation, Malakoff Corporation Berhad (KLSE:MALAKOF) and Ormat Technologies Inc. (NYSE:ORA) are among companies weighing bids for Chevron Corporation's (NYSE:CVX) Asia geothermal assets, which could fetch as much as $3 billion, people with knowledge of the matter said. Energy Development Corporation (PSE:EDC), Aboitiz Power Corp. (PSE:AP) and Marubeni Corporation (TSE:8002) are also weighing offers for the assets, the people said. Mitsubishi Corporation (TSE:8058) and PT. Medco Power Indonesia are separately studying potential bids, according to company officials. Chevron is also seeking buyers for its stake in an Indonesian oil and natural gas field and for a 75% stake in its South African unit, people with knowledge of the matter have said. Citigroup Inc., which is advising Chevron on the geothermal asset sale, will call for indicative bids by the end of next month, the people said. Deliberations are at an early stage, and there’s no certainty the suitors will submit bids, according to the people. Some potential buyers are considering partnering for joint offers, they said. A spokesman for Mitsubishi said that the company is studying whether or not to bid. Medco Power President Director Fazil Alfitri said that the company is interested in acquiring Chevron’s geothermal assets and will seek a partner for a joint bid. A spokesman for Chevron said the company does not comment on mergers, acquisitions or divestitures of its assets. CIC and Malakoff didn’t immediately respond. Spokesman for Ormat said he couldn’t immediately comment. Representatives for Citigroup, EDC and Marubeni declined to comment. Aboitiz Power President Erramon Aboitiz did not respond.

Macquarie To Sell Stake In Thames

The existing shareholders of Thames Water Limited may opt to acquire extra stake in the company. Macquarie Infrastructure and Real Assets (Europe) Limited plans to sell off its stake. A spokesman for Thames confirmed on April 9, 2016, following weekend reports, that Macquarie recently hired Nomura to manage the sale of its remaining holdings in what could result in a deal worth around £3 billion. Thames Water said that its existing shareholders including the BT Pension Fund, Abu Dhabi Investment Authority and China Investment Corporation would be approached and given the option of first refusal before external buyers could bid for the shares.

China Southern May Drop Out of Bidding Race For Ausgrid

China Southern Power Grid Co.,Ltd. has concluded that its bid for Ausgrid, which also included China Investment Corporation (CIC), does not have enough equity to make a competitive offer, Street Talk reported. Industry sources said the decision comes after China Southern and CIC lost the Qatar Investment Authority as a financial backer. China Southern scrambled to find another equity investor in order to plug the gap, reaching out to other potential financial investors. However it had not been successful. The bids are due in about three months, it would be almost impossible to fund a new partner. Street Talk revealed the troubles last week. The other option was to join up with State Grid Corporation of China. However, sources said State Grid has stated from the beginning that it would prefer to bid alone. For NSW, it implies that two bidders, State Grid and Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038), are likely to be there for a 50.4% stake in Ausgrid.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
April 26, 2016
Ant Financial Services Group
Merger/Acquisition
December 17, 2015
OJSC Detsky Mir Group
Private Placement
November 23, 2015
Hangzhou Kuaizhi Technology Co., Ltd.
 

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