(Bloomberg) -- China Investment Corp.’s head of infrastructure investment is leaving, adding to the talent loss at the $1.4 trillion sovereign wealth fund, according to people familiar with the matter.
Managing director Mi Tao resigned recently to pursue other career opportunities, the people said, requesting not to be named because the matter is private. CIC and Mi declined to comment.
The 13-year veteran joins more than 20 team leaders and managing directors who have left the Beijing-based fund in recent years, an exodus that prompted the firm to step up senior-level hiring since 2020. Some departures also follow the fund’s move to fold CIC Capital — a unit which oversees billions of dollars in private equity and infrastructure investments — into its main operations last year.
Mi, who joined in July 2010, “built CIC’s infrastructure investment platform through fund investment, co-investment, and direct investment,” according to his LinkedIn profile. He also “led multi-billion dollar infrastructure investments” ranging from regulated utilities and renewable energy to transportation sectors.
He previously advised private equity and corporate buyers in cross-border M&A transactions at Ernst & Young, after two years in investment banking services at SC Capital Partners LLC, according to the profile.
Other CIC Capital departures include former Executive Vice President Zhang Qing, who left in early 2019, and Winston Ma Wenyan, managing director and former head of the Toronto office who quit in 2018. After the unit was re-aligned, two team leaders in charge of infrastructure and technology investments left last year.
The company made some progress in replenishing its senior talent pool. It hired former Point72 Asset Management veteran Jane Zhao to lead its proprietary quantitative stocks investment team, Bloomberg reported in August.
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