China Should Follow Saudi Arabia By Setting Up Joint Funds For US Infrastructure Investment

The Public Investment Fund (PIF) of Saudi Arabia teamed up with U.S. private equity giant Blackstone Group yesterday to launch a new investment vehicle dedicated to infrastructure development, primarily in the U.S. Anchored by a US$20 billion contribution by PIF, the two plan to raise another US$20 billion from other investors and leverage up their dry powder to US$100 billion.

With U.S. President Donald Trump promising to unveil a US$1 trillion infrastructure plan later this year, this type of joint-fund approach seems perfect for China's sovereign wealth fund, the US$814 billion-under-management China Investment Corporation (CIC).

CIC is already eyeing additional invests in the U.S., especially in the country's infrastructure revival. With the opening of a representative office in New York city last Friday, Tu Guangshao, vice chairman and ...

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