Wall Street Journal Blogs – From its 17th-floor offices in the New Beijing Poly Plaza building, the monolithic landmark commissioned by the state-owned conglomerate China Poly Group Corp., China’s massive sovereign-wealth fund has established itself as a prime destination for overseas hedge-fund managers hoping to come home with big checks in their pockets.
Droves of hedge-fund and private-equity fund managers have made the pilgrimage since last year, when China Investment Corp. moved into its new offices, which is itself just two years old.
CIC, established in 2007, wields control over $200 billion, making it one of the world’s youngest but biggest sovereign-wealth funds. It also is emerging as one of the new hedge-fund emperors, a source of fresh cash for an industry thirsty for it.
