CIC is reported to decide to invest $956 million in the British Private Equity Fund – Apax – for a stake of 2.3 percent (See Article from China Daily). According to the resource, CIC is expected to invest about $150 Billion USD in private equity funds and hedge funds. Such an amount is quite high for a sovereign wealth manager with less than 5 years of experience in International operation. So far CIC’s investment in Blackstone still suffers the downturn from the ’08 financial crisis. Therefore it is a bit surprising that CIC still have the risk appetite to invest more into Private equity or Hedge funds. CIC has a total of $300 Billion to divest for the purpose of minimizing FX loss and maximizing returns.