CIC’s Chiswick Park in London
China Investment Corp., the country’s $575 billion sovereign wealth fund, favors European infrastructure and real estate as developed markets will drive the next phase of the global economic recovery.
“Europe has a lot of potential,” CIC Chairman Ding Xuedong said yesterday at a conference in Hong Kong. “It is turning from negative to positive so there should be a lot of investment opportunities.”
In November last year CIC bought the Chiswick Park London office project from private equity firm Blackstone for more than US$1.28 billion. During 2012, the fund acquired the London headquarters of investment bank Deutsche Bank for approximately $392 million as well as picking up a $724 million stake in Heathrow Airport through a CIC subsidiary.
Leave a Reply