Blackrock Plans to Partner with China SWF on China-Focused Fund
China’s sovereign wealth fund, the China Investment Corporation (CIC) is in discussion with Blackrock to launch a joint China-focused investment fund. No exact fund strategy has been detailed to the public. Some possible investment strategies could include a fund that invests in China or invests in companies that would have a tangible effect in China such as resource and/or technology companies. Another direction the proposed fund could take is to add a strategic return component.
Global asset management firms want to gain business, especially in regions of high economic growth. On the other hand, sovereign investors want to increase knowledge and engage in knowledge transfer activities.
This partnership model is growing in areas such as in the Middle East and Asia.
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