China Investment Corp. is taking a more active role in its investments overseas by co-investing with private-equity fund managers such as Canada’s Brookfield Asset Management Inc., according to people with the direct knowledge of the fund, reflecting a shift in how one of the world’s largest sovereign funds prefers to invest its money.
In its early days, CIC largely resorted to funds run by outside managers to make investments outside China. Now, as its overseas holdings grow and the fund faces greater pressure to generate returns, CIC is ratcheting up its direct-investment efforts by teaming up with, rather than investing through, third-party managers, according to fund managers who have done business with CIC and others familiar with the fund……………………………………….Full Article: Source