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CIC explores broader investing role

(Global Times)

08:29, July 20, 2012

China Investment Corp is pumping billions of dollars into private equity firms in a move meant to boost returns at the sovereign wealth fund, with an eye on taking a more active role on dealmaking.

The shift marks a strategic milestone in CIC's evolution from a slow-paced, low-return sovereign investor toward an institution following the so-called Harvard endowment model.

CIC, which manages $410 billion, is following the lead of Singapore state investors GIC and Temasek, which have built a history of investing in private equity funds as a so-called limited partner.

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