China’s sovereign wealth fund, the Chinese Investment Corporation (CIC), is 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 the Gulf states and China. According to Bloomberg, CIC is collaborating with Investcorp Holdings, a Bahrain-based company, on their pre-IPO fund that targets the Gulf region.
Anonymous sources have revealed that the partnership with Investcorp is part of CIC’s strategy to explore more investment opportunities in the Middle East. The investment by CIC and other major sovereign wealth funds in Abu Dhabi and Saudi Arabia has led to an increase in the fund’s size from its initial target of $500 million. Additionally, the fund’s focus is expected to expand beyond investments in just the Gulf region to encompass investments across Africa and Asia as well.
The investments by CIC and other sovereign funds in companies like Investcorp signify a deepening relationship between the Gulf states and China. This collaboration may lead to further economic ties and investment opportunities in the region.
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