China Sovereign Fund Revamps Overseas Investment Committees
- Changes to boost efficiency, implement asset allocation goals
- Stock rallies complicate CIC’s plan to boost non-public assets
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China’s $1 trillion sovereign wealth fund is restructuring how its decides on international investments as it tries to boost efficiency and make better progress on a goal of increasing the share of private assets in its global portfolio.
China Investment Corp. formed two committees earlier this month to approve investments in public and non-public assets, replacing bodies at units CIC International and CIC Capital that previously had overlapping responsibility for the process, according to people familiar with the matter. The new structure for overseas investing should provide a clearer mechanism to implement asset allocation strategies, they said, asking not to be identified discussing private matters.