CIC-Backed Hedge Fund PCA Investments Closes Doors

PCA Investments Holding Co, Ltd, a joint venture between the China Investment Corporation (CIC) and PCA Partners, was a multi-strategy hedge fund that has closed down. PCA Investments (Principia Capital Advisors) received major backing from the China Investment Corporation. Principia is named after a famous book by René Descartes, a renowned French philosopher. The CIC was the primary investor of the fund managing US$ 500 million. The hedge fund capital investment was a rare occurrence since large Asian sovereign wealth funds shy from startup funds with little fund performance records. The deal was in the height of the Asian hedge fund craze.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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