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Alternative Market Briefing

China Investment Corporation said to be in talks with large U.S. hedge funds, former University of Toronto Asset Management staff the gatekeepers?

Tuesday, July 07, 2009

From Matthias Knab, Opalesque Europe:

According to information obtained by Opalesque, global hedge fund managers rushed into Beijing for chances to meet with staff from China Investment Corporation (CIC), which said it would invest billions dollars in the absolute return field. Most of those money managers are from New York, London, Chicago, San Francisco and Connecticut, etc.

CIC’s activities are rather secretive - their officials usually don't appear in public events but rather use private connections. Hedge funds around the world are struggling to find ways to access CIC. The most common questions circle about the standards and requirements on mandates by the China fund.

At Opalesque, I have personally received quite a few emails bluntly asking me for "an introduction". In fact, we do have relationships to the CIC and many others, but obviously an email coming out of nowhere from a stranger asking "hey, know anyone at CIC?" isn't maybe the most promising approach.

According to some sources, CIC had been in talks with several large US hedge fund managers since last summer. Beside the investments in Blackstone Group’s hedge funds, the names mentioned include Citadel Investment Group, D.E. Shaw, Paulson & Co, Renaissance Technologies, SAC Capital and Tudor Investment Group.

A fund of fund manager reported that Felix Chee, who acts as senior adviser of CIC, had hired "lots" of former colleagues from the University of Toronto Asset Management Cor......................

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