Sunday, 24 July 2016
Last updated 1 day ago
Jul 27 2010 | 12:58pm ET
Is China’s massive sovereign wealth fund starting a hedge fund?
The US$300 billion China Investment Corp. on Tuesday posted 64 job openings to fill its “business development needs.” A spokesman for the sovereign fund told The Wall Street Journal that the hirings were part of its normal recruitment efforts, and declined to comment on whether they were related to a planned hedge fund. But in seeking hedge fund analysts, among other positions, the CIC has the rumor mill turning.
Last month, the Journal reported that the CIC and several other sovereign wealth funds in Asia and the Middle East were planning to launch their own hedge funds. Still, the CIC had a similar hiring spree last June to staff several new departments and private equity businesses.
The CIC is seeking employees from around the world to fill the positions, which include private equity investment managers, asset allocation researches, financial analysts and risk analysts. Prospective employees have until Aug. 9 to apply.