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Banks

China's CIC appoints real estate fund head -sources

HONG KONG (Reuters) - China Investment Corp, the country’s sovereign wealth fund, has hired former managing director of Starr International as its head of real estate investment funds, said sources briefed on the appointment.

Collin Lau, a former Hong Kong-based managing director in charge of private equity funds for Starr Interntional, an investment firm owned by Maurice "Hank" Greenberg, former chief of American International Group Inc AIG.N, is expected to join CIC late this month or in early January, the sources said.

Reuters reported on Monday that Zhou Yuan, former UBS UBSN.VXUBS.N China head, had been appointed head of alternative investments of CIC. Zhou will be based in CIC's Beijing headquarters. (For details: [nPEK187223])

Lau will be a member of Zhou’s alternative investments team. Besides real estate funds, Zhou’s team is also responsible for CIC’s direct investments and non-real estate private equity funds.

Lau could not be immediately reached for comment. CIC declined to comment. The sources declined to be identified before an official announcement is made to the public.

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