China-Africa Development Fund

China US$ 5 Billion
Established: 2007
Transparency Rating: 5
View SWFI Direct Transaction Data
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Origin: Non-Commodity
Entity Structure: Fund
Population Est.: 1.354 billion – 2012
Wealth Per Capita Est.: Min.
China-Africa Development Fund
The China-Africa Development (CAD) Fund was established by the China Development Bank (CDB), China’s largest policy bank, as an investment vehicle in Africa. The China Development Bank is the shareholder.

The CAD Fund is managed independently and operated in a commercial basis. They have a team that manages the fund’s assets.

Founded in March 1994, the China Development Bank is under the direct jurisdiction of China’s State Council.

Debts issued by the China Development Bank are fully guaranteed by the central government of the People’s Republic of China. It is one of the largest issuers of bonds in the People’s Republic of China.

In March 2007, the Chinese government officially established the China-Africa Development Fund. The funding will be broken out in 3 stages, totaling US$ 5 billion with the first phase being funded by the China Development Bank.

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Strategy & Objectives
The fund will be able to invest in stocks, convertible bonds and other quasi-equity type of investments in Africa. It may also invest in a “fund of funds” type of investment.