CIC's search for external investment managers
From Taighde
The China Investment Corporation has accepted applications for investment fund managers to manage external investments. Applications were accepted until January 15, 2008. It was expected that annoucements were to be made within months; however, As of February 2009, there has been no confirmation on the CIC picking any managers. There have been conflicted rumors on the number of firms and how much money will be given to these funds. We expect that the CIC will choose between 5-8 firms and give them each $1-3 billion. It is possible that one or two firms will be given more funds then that. We do not expect the total amount to be more than $15 billion for all the firms. Another rumor that has been spreading over the last week is that the CIC will pick dozens of investment funds and give them smaller amounts. We are still checking on this possibility but we hearing things that make this increasing possible.
Timeline
On December 13, 2007, CIC posted application for external investment managers.[1]
On January 4th, 2008, Bloomberg News reported that CIC had received more than 100 Applicants for the position.
Possible Managers
- BOCI-Prudential Asset Management
- JF Asset Management Ltd
- Mirae Asset Investments
- Standard Life Investments
- Aberdeen Asset Management
- Martin Currie
- BlackRock's International Account Management Group
- JC Flowers & Company
