OP Financial-CIC JV
OP Financial-CIC JV is a joint venture between OP Financial and the China Investment Corporation. The partnership was signed on August 25, 2010 and announced on September 21. OP Financial will manage JV. The CIC capitalized the JV with $15 million and OP Financial provided $1.5 million. The JV will be headed up by Zhang Weidong, Deputy CEO and head of OP Financial's private equity team.
The JV will invest in the Kazakhstan's agricultural sector. It will set up a series of trials and target the production, processing, transportation, and trade of the crops.
This is the second investment that was done jointly by OP Financial and the CIC. In October 2009, they both took stakes in Nobel Oil Group.