China’s sovereign wealth fund, yeah the one with $200 billion to toss around like tech geeks at a Vegas bachelor party, is getting ready to unleash a wave of capital into the world’s markets.
After learning a valuable lesson in the ways of Wall Street with two losing bets on Morgan Stanley and Blackstone in 2007, the fund is looking at European nations that are more receptive to China’s loot now that their economies are in tatters.
According to the Wall Street Journal, China’s sovereign wealth chief Lou Jiwai said:
“Key countries in Europe are now welcoming us. So we’ll actively consider that, because we have also discovered some opportunities. We will prudently, but also resolutely, expand our investment to an appropriate scale, including in Europe.”