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China’s $1.2 Trillion Wealth Fund Loses Two More Team Leaders

  • Sheng Fuxin, Winston Chen worked for unit of CIC Capital
  • Direct investment unit was reorganized earlier this year

​China’s $1.2 trillion sovereign wealth fund lost two more team leaders after merging its direct investment arm with the main overseas operations, extending a talent exodus. ​

Sheng Fuxin, who headed one of the infrastructure teams at China Investment Corp. resigned recently to seek other opportunities, according to people familiar with the matter. Winston Chen, a team leader for technology, media and telecommunications investments, has left, the people said, declining to be identified discussing private information.