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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment

Volcker snags China sovereign wealth fund

Posted on 19 December 2013

It looks like the Volcker Rule will force one of the world’s biggest investors in hedge funds, China Investment Corp., to exit many of its fund stakes. The sovereign wealth fund, which ranks second on Hedge Fund Alert’s roster of the largest fund investors, is a U.S. bank holding company by virtue of controlling stakes in large Chinese banks with operations in the States.
That means it is subject to Volcker Rule provisions barring banks from investing in hedge funds and private equity vehicles run by unaffiliated managers. Unless it restructures its bank holdings, or takes advantage of narrow exemptions in the final version of the rule regulators adopted last week, CIC would have to liquidate its stake in any fund managed by a U.S. firm, as well as vehicles run by non-U.S. managers with backers in the States………………………………………..Full Article: Source


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