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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Market

CIC may move North American headquarters to New York from Toronto

Posted on 18 December 2013

China’s giant sovereign-wealth fund is considering moving its North American base to New York from Toronto, according to people with direct knowledge of the matter, in a potential shift that reflects growing interest at the fund in a recovering U.S. economy and doubts over its faltering investments in the Canadian energy and resources sector.
A move to New York would mark a change in strategy by China Investment Corp., which has $580 billion in assets under management. Although CIC has bought U.S. assets, it has stayed out of the U.S. partly to avoid criticism sometimes directed at China’s authoritarian government………………………………………..Full Article: Source


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