Bahrain and China wealth funds sign MoU

Bahrain-based sovereign wealth fund Mumtalakat has forged an investment link with Chinese sovereign wealth fund China Investment Corporation (CIC).

A memorandum of understanding (MoU) was signed between the two promising to explore potential investment opportunities.

The agreement was part of a state visit to China by Bahrain’s King Hamad, the president of the current session of the Araba summit.

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The signing was completed by Mumtalakat chairman Shaikh Salman and CIC chairman and chief executive Peng Chun.

The agreement comes just weeks after it was reported that Bahrain-based alternative investment manager Investcorp was in talks with CIC about an US$800 million investment in the former’s pre-IPO fund.

The Chinese wealth fund has also sought to forge closer links with other Mena wealth funds, including Abu Dhabi and Qatar.

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