The Chinese Investment Corporation (CIC) is currently in talks to support an investment fund valued at approximately $800 million, which will focus on acquiring stakes in companies in the Middle East. This news reflects the growing trade relations between China and the Gulf states, with China being the world’s second-largest economy.
According to Bloomberg sources, CIC is collaborating with Investcorp Holdings to invest in a Bahrain-based company’s pre-IPO fund. The sources suggest that an announcement regarding CIC’s investments in the fund, along with investments from other major sovereign wealth funds in Abu Dhabi and Saudi Arabia, could be made as early as this month.
The partnership with Investcorp is part of CIC’s broader strategy to explore more opportunities in the Middle East. The significant investments from CIC and other sovereign funds have led Investcorp to increase the fund’s size from its initial target of $500 million. Additionally, the company intends to broaden the fund’s scope to include investments across the Middle East, Africa, and Asia.
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