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The Golden Horizon Fund, which will target companies across the Gulf Cooperation Council countries and China, marks the first time that CIC has invested in the Middle East.
China's wealth fund joins with Bahrain's Investcorp for $1bn Middle East investment arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
Alternative investment company Investcorp has launched a $1 billion fund backed by China's sovereign wealth fund CIC to invest in companies across Saudi Arabia, the wider Gulf region and China, it said in a statement on Wednesday. The platform, which will also be anchored by institutional and private investors from the Gulf region, will target "high-growth companies" in sectors such as consumer, healthcare, logistics and business services. Bahrain-based Investcorp said CIC's commitment "comes at a time when the GCC's appeal to institutional investors is gathering pace.”