Chinese SWF targets hedge funds

The China Investment Corp, the Chinese sovereign wealth fund, is looking at managed accounts, said Felix Chee, an adviser to the $200bn SWF of the Chinese in an interview at the GAIM International hedge fund conference at Monaco’s Grimaldi Forum.

From Bloomberg:

“It’ll be across the spectrum of strategies,” he said. “We’re looking for the best managers and a handful of fund of funds, and when I say handful I mean five or less.”

Now that somehow doubles the secrecy/lack of transparency, but perhaps by not much as the Obama administration is today to come out with its plan for the overhaul of the financial system, which apparently includes the hedge funds and private equity.


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