Chinese Sovereign Fund Invests in Investcorp Fund

China’s sovereign wealth fund is currently in discussions to support an investment fund valued at about $800 million, which will focus on acquiring stakes in companies in the Middle East. This reflects the growing trade relations between the Gulf states and China, the world’s second-largest economy.

According to Bloomberg sources, the Chinese Investment Corporation (CIC) is collaborating with Investcorp Holdings to invest in the Bahrain-based company’s pre-IPO fund, which specifically targets the Gulf region. The sources, who preferred to remain anonymous, suggested that an announcement regarding CIC’s investments in the fund, along with investments from other major sovereign wealth funds in Abu Dhabi and Saudi Arabia, could be made as early as this month.

The partnership with Investcorp is part of CIC’s broader strategy to explore more opportunities in the Middle East. The significant investments from CIC and other sovereign funds have led Investcorp to increase the fund’s size from the initial target of $500 million. Additionally, the company intends to broaden the fund’s scope to include investments across the Middle East, Africa, and Asia.

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