China’s CIC launches over $1b fund with BNP Paribas, Eurazeo

A BNP Paribas SA logo sits on a sign outside a BNP Paribas bank branch in Paris, France, on Tuesday, July 18, 2017. Photographer: Christophe Morin/Bloomberg

China’s sovereign wealth fund China Investment Corporation (CIC) has partnered with French asset management company BNP Paribas and Paris-listed Eurazeo to launch a €1-1.5 billion ($1.12-1.68 billion) fund to back European companies seeking to expand in China.

According to an announcement, CIC, BNP Paribas and Eurazeo will invest significantly in the fund, alongside other investment partners.

Eurazeo will be responsible for managing the fund, as well as choosing and managing the investments.

“Eurazeo’s investment teams are looking forward to contributing their expertise together with CIC and BNP to help French and European companies to capitalize on opportunities in the Chinese market,” said Virginie Morgon, CEO of Eurazeo.

Eurazeo is a global investment company, with a diversified portfolio of €17 billion in assets under management, including nearly €11 billion from third parties, invested in over 300 companies.

CIC boasts a corpus of $941 billion and has invested in several overseas companies ranging from home-sharing startup Airbnb, Canadian mining company Tech Resources to US private equity firm Blackstone. It is also a shareholder in 17 Chinese state-owned financial institutions, including China Construction Bank Corp and Agricultural Bank of China.

The investor is working with HSBC to launch a 1 billion pound fund to invest in companies in the UK with business ties to China. The wealth fund recently partnered with Nomura Holdings and four Japanese investors to set up a Japan-China Industrial Cooperation Fund.

Also Read: 

Nomura, CIC and others to set up Japan-China Industrial Cooperation Fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.