* Says hopeful on LatAm growth outlook
* Earned 40 pct on U.S. commercial property investment
* No direct investment in Japan
(Adds details, background)
BEIJING, March 30 China's $300 billion sovereign
wealth fund is prepared to invest more in resource-rich Latin
America because it is confident in the region's growth
prospects, a senior official said on Wednesday.
Jin Liqun, chairman of the China Investment Corp.
supervisory board , told an investor forum he had just
returned from a trip to Brazil, Argentina and Chile and saw
great potential for trade and investment.
"We are also optimistic on growth in Latin America and are
prepared to increase our investment there," Jin said. "Brazil is
fast growing, but Chile, Colombia are also providing interesting
opportunities for private equity investors."
He did not say which sectors CIC is interested in.
In the past, however, Chinese firms have bought into energy
and resource businesses in Latin America to feed China's
voracious appetite for raw materials and help fuel growth in the
world's second-largest economy.
"My impression during my short-trip to Latin America
countries is that they would like us to invest in their home
countries," he said.
Jin, who was trying to persuade foreign private equity firms
to invest in China, said CIC is hunting for good deals and
recently invested in distressed assets including U.S. commercial
The U.S. investment, made in the middle of 2010, earned a
return of 40 percent by the end of 2010, he said.
To boost CIC's overall performance, Jin said the state
investor has also invested in stand-lone funds such as those in
the energy and resource sector, and one that focuses on Europe.
He did not say if these funds were mutual funds, hedge funds
or private equity.
When asked if CIC had suffered any loss resulting from
Japan's earthquake and radiation disasters, Jin said the
sovereign wealth fund has no direct investment in Japan.
CIC was set up in 2007 to invest a slice of China's giant
foreign exchange reserves, which have ballooned to $2.85
It earned 12 percent on its global investment in 2009,
reversing from a loss of 2 percent in 2008.
(Reporting by Koh Gui Qing;; Editing by Ken Wills)