Back in the 1980s the must-attend financial event was the annual Predator’s Ball held at the Beverly Hills Hotel. Fast forward 25 years or so and it would seem that the new event to be seen at is in Hainan. Financial movers and shakers congregated on the Chinese island last weekend for CIC’s inaugural conference. The $200 billion sovereign wealth fund (see WiC40) was celebrating its 17% gain in 2009. Firms like Blackstone, KKR and Wilbur Ross were represented by senior figures and as one attendee told the Financial Times: “It was a coming out party.” And CIC’s not the only one coming out. This week China’s National Social Security Fund also announced plans to expand its foreign investments. The $114 billion fund says it wants to invest 20% of its portfolio overseas.
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