HONG KONG: China Investment Corp (CIC), the country’s US$200bil sovereign wealth fund, is set to pour up to US$2bil soon into the US mortgage system by hiring mandates under the US Treasury-backed Public-Private Investment Plan (PPIP), sources said.
Under the PPIP programme launched earlier this year the US government plans to seed a number of public-private investment funds that would combine taxpayer money with private capital to buy as much as US$40bil in toxic securities from banks.
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