Chinese Sovereign Wealth Fund Expands Presence in the Middle East with $800 Million Investment

Chinese Investment Corporation (CIC), the country’s sovereign wealth fund, is currently in talks to support an investment fund worth approximately $800 million. This fund will focus on acquiring stakes in companies in the Middle East, indicating a growing trade relationship between Gulf states and China. According to anonymous sources, CIC is collaborating with Investcorp Holdings, a Bahrain-based company, on their pre-IPO fund that targets the Gulf region.

Investments by CIC and other major sovereign wealth funds in Abu Dhabi and Saudi Arabia have prompted Investcorp to increase the fund’s size from its initial target of $500 million. The fund’s focus is also expected to expand to encompass investments across the Middle East, Africa, and Asia. This collaboration signifies a deepening relationship between the Gulf states and China, which may lead to further economic ties and investment opportunities in the region.

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Stay tuned for potential announcements regarding CIC’s investments in the Middle East and its partnership with Investcorp as they work towards expanding their presence in the region.