Good morning, London. Here’s our top story this morning:
- The China Investment Corporation’s Chairman Lou Jiwei has been tipped (by Reuters and Bloomberg) as the next Chinese Minister of Finance. As is usually the case with CIC scoops of this nature, this is all based on unnamed sources. So apply a healthy discount to this story. Still, Lou had been one of the contenders for the top spot at MoF before Xie Xuren assumed office in 2007, which adds some credibility to the story. Anyway, if Lou does leave the CIC, Gao Xiqing is tipped to take over as CIC Chairman.
In other news:
- Stanford Management Corp. remains bullish on its real estate and private equity allocations. However, it will shift the risk profile of its assets.
- The Korea Investment Corporation has ‘dipped a toe’ in London’s real estate market: 1 Bartholomew Lane.
- And here’s an excerpt from Stiglitz’ new book on SWFs and LT investors. Looks interesting.