CIC Might Be Launching A Hedge Fund Right Now

China Investment Corp has started a big round of international hiring, and word is it’s because they’re starting a hedge fund.

CIC is hiring for 64 new positions available within areas like asset allocation and strategic research, financial analysis, credit- and country-risk management, hedge-fund analysis, special investment, and private-equity investment (see what they’re hiring for). The deadline is August 9th.

According to the Wall Street Journal:

Two people familiar with the situation said at the end of June that several Asian and Middle Eastern sovereign-wealth funds, including CIC, were planning to create their own hedge funds to seek better returns for their nations’ accumulated wealth.

But a spokeswoman for CIC said the postings are part of the fund’s normal recruitment efforts and wouldn’t tell the WSJ about its business plans. She also declined to comment on whether the latest round of hiring is related to the establishment of a hedge fund.

The hedge fund business in Asia will probably continue to grow. In 2007, the Chinese hedge fund industry had grown 100% in the past few years. Bank of China bought a 30% stake in the Geneva-based Heritage Fund Management in late 2008. Since then a number of Asia-based hedge funds have lauched.

FYI, the website to apply on is right here, and the contact email is [email protected]

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