| For years, the China Investment Corporation (CIC) has accumulated a substantial pool of sovereign wealth capital, but encountered a series of hiccups on getting its direct investment program fully functioning. The Asian sovereign wealth fund placed significant bets in Canadian oil sands, infrastructure, utilities and U.S. financials.
At the start of 2015, CIC formed a unit called CIC Capital whose focus is to go after direct equity investments. When some initial direct investments exhibited tepid performance, it fostered some level of disillusionment with a number of CIC’s government higher ups. The CIC did not give up on direct investing, allocating capital to companies such as Teck Resources, Bumi Resources, Thames Water and Visa...............................................Full Article: Source
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