The presumed next leader of China’s sovereign wealth fund may look inward for growth. Although still not officially confirmed, it has been widely reported that Tu will take over as chairman of CIC. Most of the foreign press coverage has focused on CIC’s role in investing a major portion of China’s US$3.2 trillion in foreign exchange reserves overseas.
The US$482 billion fund has made many high profile investments, such as one in London’s Heathrow Airport last year………………………………….Full Article: Source

Jin Liqun, chairman of the supervisory board of China Investment Corp - the country’s sovereign wealth fund - will step down on Friday to assume the position of chairman of China International Capital Corp on Monday, Jin told China Daily on Thursday.
He is expected to succeed 64-year-old Li Jiange, who has been CICC’s chairman since 2008. Analysts said that Jin’s decision to join CICC, the country’s first joint venture investment bank and a leader in the financial services sector, may require the 64-year-old finance professional to come up with new strategies to boost the bank’s performance…………………………………Full Article: Source

One of the world’s biggest sovereign wealth funds, the Abu Dhabi Investment Authority announced the appointment of John McCarthy as global division head of infrastructure.
In a statement, ADIA said that McCarthy would be joining the sovereign wealth fund from Deutsche Bank where he was managing director for the bank’s infrastructure, a position he held since 2005. In his new role, he would be overseeing the fund’s existing portfolio as well as originate new transactions for the ADIA………………………………………..Full Article: Source

The Abu Dhabi Investment Authority has hired the former global head of Deutsche Bank’s Rreef Infrastructure platform to spearhead its investments in the asset class, following a number of high profile appointments by the Middle Eastern sovereign wealth fund in the last year.
John McCarthy, who quit as managing director and global head of RReef Infrastructure at Deutsche Bank in February, has joined Adia as global head of infrastructure with immediate effect, according to a statement from the sovereign wealth fund……………………………………Full Article: Source

In the case of Nigeria, SWF is derived from Excess Crude Account (ECA) of the country that is owned by the Federal Government, the states and local governments. It was established by Ngozi Okonjo-Iweala, Minister of Finance and Coordinating Minister of the Economy.
Nigerian governors under the leadership of Amaechi were believed to have incurred the wrath of the Presidency by the manner of their opposition to SWF. They resisted it claiming, among other things, that that states should be allowed access to the funds as well, rather than having the Federal Government alone to have access to it. According to the governors, it was illegal and contrary to the country’s Appropriation Act of 2011 and the 1999 Constitution of the country……………………………………Full Article: Source

A new leader has been chosen for the China Investment Corporation (CIC), nearly two months after former chairman Lou Jiwei departed to be the nation’s finance minister, according to the South China Morning Post.
Tu Guangshao, the executive vice-mayor of Shanghai, is expected to be named as chairman of China’s $500 billion sovereign wealth fund in the near future. The 54-year-old is a member of the Communist Party of China’s standing committee, according to his biography on the Shanghai mayor’s office website………………………………………..Full Article: Source

Tu Guangshao will be nominated as the chairman of China Investment Corporation (CIC), China’s $410 billion sovereign wealth fund, according to local media reports.
The appointment, which a Shanghai-based source says has been confirmed, comes two months after former CIC chairman Lou Jiwei became minister of finance, and follows a reshuffle of senior financial figures as part of the transition to the new Communist party leadership under president Xi Jinping………………………………………..Full Article: Source

Tu Guangshao is expected to be named as chairman of the US$500 billion sovereign wealth fund China Investment Corp. Beijing is expected to announce appointments to key financial positions in the near future as the new leadership prepares to take bolder steps towards financial reforms.
Tu Guangshao, executive vice-mayor of Shanghai, will be named chairman of the mainland’s US$500 billion sovereign wealth fund, China Investment Corp, more than two months after Lou Jiwei left the post to become finance minister, sources said……………………………………Full Article: Source

Standard Chartered’s largest shareholder has failed to back four of the emerging market lender’s directors in a dispute over the boardroom structure of the bank. Singaporean sovereign wealth fund Temasek, which owns an 18pc in Standard Chartered, refused to back the reelection to the bank’s board of four executive directors.
Steve Bertamini, Mike Rees, Viswanathan Shankar and Jaspal Bindra each saw about a fifth of the bank’s shareholders fail to back them, while a further 1pc of investors actively voted against their election at its annual general meeting…………………………………Full Article: Source

Angola’s government plans to appoint a new chairman for its $5 billion sovereign wealth fund after Armando Manuel stepped down. Manuel was recently appointed as finance minister after the recent cabinet reshuffle.
President Jose Eduardo dos Santos on Monday replaced his finance and construction ministers in the first cabinet re-shuffle since elections last August. Manuel, who besides chairing the Angolan Sovereign Fund (FSDEA) was also Dos Santos’ secretary for economic affairs, was promoted to replace Carlos Alberto Lopes as finance minister………………………………………..Full Article: Source

Angola’s government plans to appoint a new chairman for its $5 billion sovereign wealth fund, with Armando Manuel stepping down from the post after he was appointed as the oil rich-country’s finance minister, a spokeswoman for the fund said on Tuesday.
“The fund (FSDEA) confirms that Armando Manuel will leave the post of chairman in order to concentrate on his new position,” the spokeswoman said in written comments to Reuters. President Jose Eduardo dos Santos on Monday replaced his finance and construction ministers, in the first cabinet re-shuffle since elections last August………………………………………..Full Article: Source

Angola’s government plans to appoint a new chairman for its $5 billion sovereign wealth fund, with Armando Manuel stepping down from the post after he was appointed as the oil rich-country’s finance minister, a spokeswoman for the fund said on Tuesday.
“The fund (FSDEA) confirms that Armando Manuel will leave the post of chairman in order to concentrate on his new position,” the spokeswoman said in written comments to Reuters. President Jose Eduardo dos Santos on Monday replaced his finance and construction ministers, in the first cabinet re-shuffle since elections last August………………………………………..Full Article: Source

The appointment of Armando Manuel as Angola’s finance minister boosts the legitimacy of the southern African nation’s $5 billion sovereign wealth fund, Markus Weimer of Control Risks Group said.
Angolan President Jose Eduardo dos Santos replaced Finance Minister Carlos Alberto Lopes yesterday in a cabinet shuffle and appointed Waldemar Pires Alexandre construction minister. “The appointment of Manuel brings greater legitimacy and prominence to the sovereign wealth fund, which is going to be an important part of Angola’s development going forward,” Weimer, a senior analyst for Control Risks in London, said………………………………………..Full Article: Source

President Jose Eduardo dos Santos replaced his finance and construction ministers on Monday in the first cabinet re-shuffle since he led his MPLA party to victory in Angolan elections last August. Armando Manuel, who had served as secretary for economic affairs, replaces Carlos Alberto Lopes as finance minister of Africa’s No. 2 oil producer, the presidency said a statement without giving reasons for the re-shuffle.
Manuel is the chairman of the board of Angola’s sovereign wealth fund, which was launched in October with an initial endowment of $5 billion to invest in projects to diversify the oil-dependent economy. It is not known whether he will remain on the three-person board, which also includes one of Dos Santos’s sons………………………………………..Full Article: Source

Jauan Salem Al Dhaheri, a board member of the Abu Dhabi Investment Authority and secretary general of the emirate’s Supreme Petroleum Council, has died, according to a condolence message on the ruler of Dubai’s website.
Sheikh Mohammed bin Rashid Al Maktoum offered condolences to the Al Dhaheri family on April 30, according to the statement. Dubai and Abu Dhabi are two of the seven sheikhdoms comprising the United Arab Emirates………………………………………..Full Article: Source

Malaysian Prime Minister Najib Razak is facing calls before a weekend election to justify a $3 billion bond placement by the sovereign-wealth fund he leads, with opponents saying the deal was unnecessary and mispriced.
Goldman (GS) Sachs Group Inc. arranged the March 19 sale of 10- year debt by 1Malaysia Development Bhd., also known as 1MDB, and the notes were priced to yield 4.4 percent, 141 basis points more than sovereign Islamic dollar bonds due July 2021 were yielding at that time………………………………………..Full Article: Source

China Investment Corp., the world’s fifth-largest sovereign wealth fund, is treated differently than other investors by U.S. regulators, the company’s president said in Washington.
CIC faces challenges in the U.S. and is “singled out as a different investor,” CIC President Gao Xiqing said yesterday at a conference after meetings with officials in the U.S. capital.“We thought we were friends,” Gao said. “All of the sudden, you’ve got people slapping you in the face and telling you, OK, we don’t like you.”……………………………………….Full Article: Source

Hassad Food Co, the agricultural investment arm of Qatar’s sovereign wealth fund, said on Sunday it has appointed a new CEO. Fahad Abdulla Turki Al-Subaiey will be based in the company’s headquarters in Doha and will report directly to Nasser Al Hajri, the chairman of the Hassad Food Company.
Al-Subaiey has now the overall global responsibility for the company’s growth strategy, investment plans and operations, a statement said………………………………………..Full Article: Source

China Investment Corp., the world’s fifth-largest sovereign wealth fund, is treated differently than other investors by U.S. regulators, the company’s president said in Washington.
CIC faces challenges in the U.S. and is “singled out as a different investor,” CIC President Gao Xiqing said yesterday at a conference after meetings with officials in the U.S. capital.“We thought we were friends,” Gao said. “All of the sudden, you’ve got people slapping you in the face and telling you, OK, we don’t like you.”……………………………………….Full Article: Source

The head of Kuwait Investment Authority has denied reports suggesting that the country’s sovereign wealth fund may have played a role in driving up recent trading in the national stock market. Bader Mohammad al-Saad told Al Arabiya on Thursday that the Investment Authority has long-term strategic investment purposes and does not interfere in daily market trading.
The traded value in Kuwait’s bourse reached on Thursday 92 million dinars ($322.86), which is the highest value in more than two years. On Wednesday, the bourse rallied to breach the 7,000 points mark for the first time in 30 months……………………………………..Full Article: Source

Gao Xiqing, president of China Investment Corp., the country’s $500-billion sovereign wealth fund, recently denounced Japan thusly (paywall): “Treating the neighbors as your garbage bin and starting a currency war would not only be dangerous for others but eventually be bad for yourself.”
But today, another CIC head, Jin Liqun, blew off those concerns: “Monetary easing … is a necessary but not sufficient condition,” said Jin, who chairs CIC’s supervisory committee (paywall). It’s hard to know why they differ—or even whether they differ. Both Gao and Jin are chatty guys, and the media quotes them a lot. That’s probably because, unlike China’s generally wooden political elite, they are comfortable with the media, speak great English, and have dry wits…………………………………Full Article: Source

They may be on opposite sides of the Earth, but Chile in Latin America and Central Asia’s sparsely populated Mongolia share more than a few similarities. Both boast some of the biggest copper deposits in the world and now Mongolia has turned to Chile for advice on how best to steward income from its forecast bounty that stretches out beneath the Gobi desert.
It is sourcing help from one of the architect’s of Chile’s rocketing $22.9-billion sovereign fund. Eric Parrado, former international financial coordinator at Chile’s ministry of finance and now advising other emerging economies on the steps to managing resource wealth, has become synonymous with Chile’s global reputation on wealth fund expertise…………………………………Full Article: Source

The prime minister’s office does not agree with the finance ministry position that the country does not have enough foreign exchange to set up a sovereign wealth fund. Prime minister Manmohan Singh is keen on creating a $100 billion fund. Finance minister P Chidambaram will soon meet the prime minister to discuss the next steps towards creating the fund. “Inputs from various ministries have been received. The prime minister will now give a final directive,” says an official.
At a recent meeting chaired by the prime minister’s principal secretary Pulok Chatterjee, finance ministry officials said that the foreign exchange was not enough for the fund…………………………………….Full Article: Source

The value of Norway’s $724 billion oil fund is likely to fluctuate more in the coming years, said Minister of Finance Sigbjorn Johnsen Friday, adding that he still expected an average annual yield of 4%. “I think 4% is a realistic target,” Mr. Johnsen told Dow Jones Newswires after presenting the government’s annual review of the oil fund’s performance and strategies.
The fund returned 13.4% on its investments in bonds, stocks and real estate in 2012, its second best year ever. But Mr. Johnsen said the Norwegian people should expect more volatility in the fund’s value in the years to come………………………………………..Full Article: Source

Gao Xiqing, the very funny and impressive vice-chairman and president of China Investment Corporation, got fed up with repeated mistakes by the moderator, a reporter from the Financial Times, who kicked off the roundtable by quoting grossly inaccurate figures about foreign investment into China and then proceeded to refer to CIC as “China Capital”.
That finally moved Gao, who was badgered throughout the long session to give up some inside information, to tell the moderator: “You must say “China Investment Corporation’ 500 times.”……………………………………….Full Article: Source

President His Highness Shaikh Khalifa Bin Zayed Al Nahyan issued an Emiri decree restructuring the Abu Dhabi Investment Authority. According to the decree, the investment authority will be chaired by Shaikh Khalifa.
The board members include Shaikh Sultan Bin Zayed Al Nahyan, the President’s Representative; General Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces; Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; and Shaikh Hamed Bin Zayed Al Nahyan, Chief of Abu Dhabi Crown Prince’s Court………………………………………..Full Article: Source

The departing chairman and chief executive of the Libyan Investment Authority has said he was about to appoint lawyers to seek compensation from banks including Société Générale and Goldman Sachs – banks he has accused in the past of causing losses worth billions of dollars.
In a wide-ranging interview published in Euromoney magazine, Mohsen Derregia (pictured), who is being ousted from the LIA after just 11 months in the top job, speaks passionately about his removal – which he is challenging – and the importance of the approximately $60bn sovereign fund………………………………………..Full Article: Source

The U.S. is telling China’s $500 billion sovereign-wealth fund to “go away,” according to the fund’s top executive, in the latest sign of strained investment ties between the world’s two largest economies.
During the financial crisis, “we were sort of welcome” in America, said Gao Xiqing, head of China Investment Corp., in a panel discussion on Sunday at the Boao Forum for Asia. Since then, “somehow we’ve become stigmatized,” he said, adding that “there have been quite a few cases where the U.S. says ‘go away.’”……………………………………….Full Article: Source

Liberal Party senatorial candidate Ramon Magsaysay Jr. on Wednesday said the government should take risks in creating a Sovereign Wealth Fund (SWF) to sustain the country’s strong financial standing. Magsaysay emphasized that the SWF will not only stabilize the country’s resilient economic growth but will also help expand and boost competition among small and medium enterprises (SMEs) that are said to be responsible for driving innovation in many economic sectors.
“In order for us to sustain our economic advances, we must make our entrepreneurs bigger. There are thousands of entrepreneurs and SMEs all over the countryside. Many of them are doing well but they lack necessary financial requirements to further improve their businesses,” Magsaysay said………………………………………..Full Article: Source

Mohsen Derregia was plucked from nowhere to run the $60 billion fund of the Libyan Investment Authority. He found a mess that he spent a year trying to clean up. Now, as many of LIA’s investments are being reassessed, he’s on his way out. He tells an extraordinary tale of sovereign wealth in a conflict-torn country.
You are a country emerging from a bloody revolution that has ended 42 years of stultifying dictatorship, and you have one crown jewel: a sovereign wealth fund, fed with national oil wealth, with perhaps $60 billion of assets. So where do you go, in these liberated but uncertain times, to find the right man to run it? In Libya in 2011 you went, it turned out, to the University of Nottingham Business School………………………………………..Full Article: Source

Abu Dhabi Commercial Bank (ADCB) announced on Tuesday that it has appointed the first woman to its board of directors. The appointment of Aysha Ahmed Sultan Al Hallami, who joined the board alongside Omar Liaqat, was part of the bank’s efforts to promote greater diversity at senior level. Al Hallami is a research Analyst at Abu Dhabi Investment Authority (ADIA).
Eissa Mohamed Ghanem Al Suwaidi, chairman of ADCB, said; “Mrs Al Hallami is the first woman appointed to the bank’s board of directors. This is in line with our efforts to promote greater diversity at board level and it also corresponds with the government’s efforts to empower Emirati women.”……………………………………….Full Article: Source

Oman Investment Fund (OIF) a sovereign wealth fund of the Sultanate of Oman, has today announced the appointment of, among other new members, two insurance industry experts to the board of Oman National Investment Corporation Holding SAOG. OIF acquired a 41.13% holding, in ONIC Holding in February 2013.
Andrea Moneta and Lakhdar Moussi join the ONIC Holding Board following their election at ONIC Holding ’s AGM held on 30th March in Muscat. Mr Moneta and Mr Moussi bring decades of international insurance sector experience and expertise to ONIC having worked for and advised some of the most prominent names in the industry. (Press Release)

With China’s parliament voting on Saturday, important appointments were made in the fields of finance and economics. Zhou Xiaochuan was reappointed central bank governor, becoming the longest-serving chief of the central bank. Lou Jiwei, the former head of China Investment Corp, China’s sovereign wealth fund, will now take over as Minister of Finance.
Gao Hucheng, China’s chief trade representative, will run the Ministry of Commerce. Xu Shaoshi, who formerly led the Ministry of Land and Resources, is the newly appointed head of the National Development and Reform Commission………………………………………..Full Article: Source

Former Government of Singapore Investment Corporation (GIC) chief investment officer Ng Kok Song says sovereign wealth funds should look at investing in the long term. A successful sovereign wealth fund needs to have a long-term investment horizon.
An industry study expects assets of sovereign wealth funds to grow about 8 percent from US$5.2 trillion to US$5.6 trillion by the end of 2013. Sharing his vast experience in managing investments for a sovereign wealth fund, Mr Ng, who retired as GIC’s chief investment officer in February, says sovereign fund investments should be evaluated over a period of about 20 years to be meaningful…………………………………Full Article: Source

The Government Investment Corporation’s Report on the Management of the Government’s Portfolio stopped publishing its nominal returns converted to Singapore dollars three years ago.
Replying to a question in Parliament on Wednesday, Minister of State for Finance Josephine Teo said this is to avoid confusion when comparisons are made with other fund managers or global market indices…………………………………Full Article: Source

José Filomeno de Sousa dos Santos, the son of Angola’s President José Eduardo dos Santos, has just swept in and out of South Africa to market the country’s new $5 billion (R45bn) sovereign wealth fund, as well as to talk to fund managers and investors here.
Interviewed at the Mount Nelson Hotel, while he attended a conference of African countries that also have sovereign wealth funds, he was asked whether South Africa should follow the Angolan example. He replied that it was created to promote growth and improve socio-economic conditions in his country, but “South Africa is advanced in terms of industrialisation”…………………………………Full Article: Source

The outgoing head of Libya’s sovereign wealth fund said a decision to sack him has left its restructuring plans and the pursuit of compensation for investment losses in limbo, potentially costing the country millions. Late last month Prime Minister Ali Zeidan said Mohsen Derregia, head of the Libyan Investment Authority (LIA), would be replaced under a government policy to remove those who performed poorly in their jobs.
In an exchange highlighting the disarray of state institutions some 18 months after Muammar Gaddafi’s ouster, Derregia took his dismissal to court, saying it had come out of the blue and that he had yet to be contacted over a handover………………………………………..Full Article: Source

Back in 2012 the operator of the Norwegian government’s pension fund axed many of its external mandates, opting to rely instead on in-house expertise. One year on, it’s delivered its second best return ever. Here’s how it did it.
The operator of the Norwegian Government Pension Fund Global - the world’s second largest sovereign wealth fund - last year axed its externally managed mandates, cutting assets run by third parties within the $667 billion fund to the lowest level since the fund’s launch in 1998………………………………………..Full Article: Source

The son of Angolan President Jose Eduardo dos Santos says the country’s new $5bn sovereign wealth fund will look for investment opportunities in South Africa and the region as it bids to grow the returns that are key to improving infrastructure in the oil-rich nation.
Jose Filomeno de Sousa dos Santos, director for strategy at the Sovereign Wealth Fund of Angola — better known by its Portuguese acronym FSDEA — says the fund’s priority is to invest in industries, manufacturing and infrastructure. It is keen to put that cash in Angolan projects, as well as those of key ally South Africa, and possibly western economies………………………………………..Full Article: Source

Managing director and president of Australia’s Future Fund, Mark Burgess leads a dynamic sovereign wealth fund with A$82.4 billion ($85.1 billion) in assets and a reputation for savvy risk management. Launched in May 2006 with just A$18 billion, Future Fund - which kept most of its assets in cash during the financial crisis - went on to build a highly integrated, risk-weighted portfolio of investments.
Under the guidance of founding CIO David Neal, it also broke with SWF tradition by challenging its staff to look beyond their particular areas of expertise and think about risk and return across the total portfolio. The result: an innovative organization known for its flexible investment style and its ability to deploy assets throughout diverse sectors and geographies……………………………………….Full Article: Source

Qatar’s sovereign wealth fund hopes to appoint former French president Nicolas Sarkozy in a senior role at a new private equity fund. London’s Financial Times cited anonymous sources claiming that Qatar Investment Authority alongside other investors were prepared to back Sarkozy, who lost last year’s presidential race to socialist Francois Hollande, with up to €500m to run the new fund.
Sarkozy’s leadership of the potential new fund has been put on hold in recent weeks however as he seeks a return to French politics amid declining public sentiment toward Hollande, two people close to the matter reportedly said………………………………………..Full Article: Source

China will likely appoint savvy international dealmakers to run its giant sovereign wealth fund and Commerce Ministry in a soft power push to soothe fears over a planned spending spree to boost Beijing’s ownership of strategic global assets.
Securities regulator Guo Shuqing is tipped to take the helm at the $482 billion state investment vehicle, China Investment Corp (CIC) , and China’s chief trade representative, Gao Hucheng, is seen running the Commerce Ministry, two sources with leadership ties told Reuters……………………………………….Full Article: Source

Libyan Prime Minister Ali Zaidan said the head of the country’s sovereign wealth fund should step aside and allow his successor to take over after he was fired. “We are hoping that Mr Derregia will do the right thing and step down,” Prime Minister Ali Zaidan told reporters yesterday in Tripoli, referring to Mohsen Derregia, Chairman and Chief Executive Officer of the fund, who was fired recently.
Derregia is refusing to leave his post and hasn’t given a reason for his attempts to remain in his position. Ali Mohamed Salem Hebri, deputy governor of the Central Bank of Libya, is set to take over………………………………………..Full Article: Source

Former Lawrence Graham (LG) technology partner Peter Brudenall has joined the Abu Dhabi Investment Authority (ADIA) in its in-house legal team.
Brudenall co-ordinated LG’s technology, outsourcing and data protection practice out of London, with this portfolio now passed on to partner Jonathan Riley, working under projects head Christopher Tite………………………………………..Full Article: Source

Libya will replace the head of its sovereign wealth fund, Mohsen Derregia, after the government deemed his performance unsatisfactory, Prime Minister Ali Zeidan said. Zeidan said deputy central bank governor Ali Mohammed Salem Hebri would temporarily take charge of the Libyan Investment Authority (LIA) until a permanent replacement was found.
“The head of the LIA will be changed. This is the government’s policy. Whoever cannot do their job properly will be replaced,” Zeidan said………………………………………..Full Article: Source

Libya will replace the head of its sovereign wealth fund, Mohsen Derregia, after the government deemed his performance unsatisfactory, Prime Minister Ali Zeidan said, but so far he has refused to step down despite being told to do so days ago.
Speaking at a news conference on Thursday, Zeidan said deputy central bank governor Ali Mohammed Salem Hebri would temporarily take charge of the Libyan Investment Authority (LIA) until a permanent replacement was found. “The head of the LIA will be changed. This is the government’s policy. Whoever cannot do their job properly will be replaced,” Zeidan said. “Up until now he has declined to step down but he needs to do that.”……………………………………….Full Article: Source

Government of Singapore Investment Corp., manager of more than $100 billion of the city’s reserves, named Jeffrey Jaensubhakij, 46, as the president of GIC Asset Management.
Jaensubhakij will replace Lim Chow Kiat, who became chief investment officer in February, as of April 1, GIC said in an e- mailed statement today. Jaensubhakij, who joined GIC in 1998, will relinquish his current role as the president Europe and relocate from London to Singapore, according to the statement………………………………………..Full Article: Source

Singapore state investor Temasek Holdings Pte Ltd has hired the deputy chief executive of Singapore Technologies Engineering Ltd as a senior managing director to look at investment opportunities in the liquefied natural gas sector.
Seah Moon Ming, an electronics engineer by training who oversaw four business units at ST Engineering, will be part of a new “enterprise development group” formed under Dilhan Pillay Sandrasegara, sources with direct knowledge of the matter told Reuters……………………………………Full Article: Source

SinoCast Daily Business Beat via COMTEX) –Hu Bing, head of the investment division of China Investment Corporation (CIC), will join the Russian Direct Investment Fund (RDIF) as chief executive officer (CEO), disclosed people in the know.
CIC, on the other hand, has yet to make a comment on the rumored appointment. RDIF, in which CIC invested USD 1 bn, plans to inject not less than 70% of its capital into projects in Russia and the CIS countries and not more than 30% into Russia-related projects in China……………………………………….Full Article: Source

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The National Investment Corporation of the National Bank of Kazakhstan, a sovereign wealth fund (SWF) managed by the central bank, is seeking a fund-of-hedge-funds manager and a private equity fund-of-funds manager to run parts of its newly launched investment portfolio.
The Investment Corporation, launched last summer with the aim of becoming a major global player, published tenders for the two roles on its website today, specifying that each manager would be responsible for assets worth between $50 million and $150 million………………………………………..Full Article: Source