China Investment Corporation Acquires 8.68% Stake in Britain’s Thames Water

China continues to invest in global infrastructure projects, as it has just announced that the China Investment Corporation, the country’s sovereign wealth fund, has acquired an 8.68% stake in Thames Water, Britain’s largest water and sewerage company.

This marks the first investment in Britain by the China Investment Corporation, which was created in 2007, and has $410 billion of assets under management as of 2010, which is when the latest figures are available.

The China sovereign wealth fund was established to invest the proceeds from China’s foreign currency reserves, which now total more than $3 trillion.

Google Links:

Blog: China’s Sovereign Wealth Fund Buys Minority Stake in British Utility‎ New York Times (blog)
Rise of the Peking Pound: China buys 10% stake in Britain’s …‎ Daily Mail
The Press Association – Telegraph.co.uk
all 129 news articles »