CHINA's sovereign wealth fund has partnered with the Middle East's largest alternative asset manager to launch a US$1 billion fund for investing in companies in Gulf Cooperation Council (GCC) countries, strengthening economic relationships between the two regions, reports Hong Kong's South China Morning Post.
The Golden Horizon Fund, launched with Bahrain-based Investcorp Holdings, marks the first time that China Investment Corp (CIC), which has assets of $1.35 trillion, has invested in the Middle East.
"As one of the world'st couple of years, we have built several bilateral funds with leading financial institutions to facilitate industrial cooperation between China and major economies in the world.