DECONSTRUCTED: Reds only need apply

The China Investment Corporation launched a recruitment drive recently as it expands overseas, but only wants Chinese Communist Party members that are good at keeping secrets. PERE Magazine September 2010 issue

It won’t have escaped your attention that China’s $300 billion sovereign wealth fund, the China Investment Corporation (CIC), has been extremely active of late. Most recently, it was linked to the impending secondaries sale of $500 million of US property fund interests by Harvard University.

It is little surprise, therefore, that CIC is on a recruitment drive across the asset classes, including for international real estate investment.

Unfortunately, if you fancy your chanc es of joining the Beijing-based team, there are some fairly high hurdles to clear. According to a report in the Financial Times, a recent recruitment advert by CIC calls for applicants to be members of the Chinese Communist Party.

That likely rules out 99.9 percent of those involved in global private equity real estate. But there is more. In addition, they must have a “precise work style” and “strong comprehensive awareness” and be “good at keeping secrets”.

That last criteria alone might rule out a good few folk, PERE supposes. For more on CIC’s investments see p. 17.