China's sovereign fund invests 956 million U.S. dollars in Apax Partners



According to today released the official newspaper China Daily quoted sources from the negotiation, for this amount of CIC acquires 2.3 percent of capital from Apax Partners.

The operation already gained the approval of British regulators, the sources said, also adding that the Chinese fund is also in talks to buy a part of renewables Italian firm Enel Green Power, owned electricity giant Enel SpA

The ICC, established in 2007, has assets of about 300,000 million dollars to diversify China's foreign exchange reserves, the largest in the world with over 2.3 billion dollars.

Although initially focused on financial investments in recent months has turned to its goals and, like other investment arm of Beijing, is acquiring oil and mining interests.

Among the latest transactions, the Chinese fund purchased in the fall about 11 percent of the Kazakh KuzMunaiGas JSC Exploration Production (KMG EP), which is dedicated to the procurement of oil and gas, and also invested 1.580 billion dollars (1.054 million euros) to purchase 15 percent of U.S. energy firm AES Corporation leader.

Market analysts believe the Chinese fund is successfully taking advantage of the financial crisis and estimate that the company achieved a return of at least 10 percent on its investments last year.

Apax funds invest in the sectors of Technology and Telecommunications, Distribution and Consumer, Media, Healthcare and Financial Services, and in his later years participated in several operations in Spain, in companies like Parks Reunited, Jazztel, eDreams, Panrico, Electro Stocks and Vueling. EFE

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