China Investment Corporation, the sovereign wealth fund, is establishing a small fund to help Chinese companies invest in European groups in partnership with the Belgian Federal Holding Company and A Capital, a private equity group.
The fund plans to take minority stakes alongside Chinese companies in midsized European companies with strong potential in China, either because of their branding or technology or some other edge.
The move comes as China is encouraging its companies to expand internationally. “Cross-border investment used to be from Europe to China,” said Andre Loesekrug-Petri, chairman of A Capital. “This is more in the direction of China to Europe.”
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