China Investment Corp. is working on “three or four” deals from its newly opened Toronto office, the head of that office said Friday.
The office, which began operations in January, is working to “source opportunities” from across the Americas, said Felix Chee, CIC’s chief representative in Toronto.
It has been looking to natural resources, mining, energy, infrastructure, real estate and even “things in technology,” he said. He declined to comment on how quickly transactions will materialize, if at all. But he cautioned that they may not be blockbusters.
“We’re not necessarily looking at big-ticket deals. There might be some interesting ones in a couple hundred million,” he said.
CIC’s Toronto presence has now grown to four people. Mr. Chee said “there would be interest” in investing in new West Coast export infrastructure – whether that’s oil or gas – but “it’s not something that we want to aggressively assert ourselves. We have to just monitor the progress, and see where can make the most significant contribution to this.”
He said the goal is not necessarily to secure energy for import to China.
China is “energy short, so [they] like to see the supply go to China,” he said. “But even if you owned it and it doesn’t go there, it’s still a hedge economically.”
But, he added: “If you can get it out there, so much the better.”