China’s Wealth Fund to Consider Investing in Europe - by Eugene Tang
China’s $200 billion sovereign fund will consider investing in Europe in 2009, after avoiding the continent last year because of trade barriers, said China Investment Corp.’s Chairman Lou Jiwei. “Europe has started to welcome investments” without attaching conditions, Lou said today at the Boao Forum in southern China’s Hainan province. “During the world financial crisis, sovereign wealth funds have become more appealing” and less frightening, he said. Beijing-based CIC, whose investments have included stakes in Blackstone Group LP and Morgan Stanley, didn’t invest “a single cent” in European companies or assets last year, because the continent had put up barriers to limit the activities of sovereign wealth funds, he said. He declined to specify the European industries or companies he’s looking at investing in.
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