China's National Social Security Fund has only invested CNY8 billion ($1.2 billion) of the CNY80 billion it has earmarked for PE investments, NSSF vice-chairman Wang Zhongmin said Wednesday.
The NSSF is preparing to invest in foreign private equity funds and is vetting candidates, Wang said at a private equity event in Beijing.
Wang didn't name the funds under consideration.
Wang said the NSSF has had annual returns of 30% on its investments so far, and returns will grow significantly over the next five years, but didn't elaborate.
The pension fund will invest more significantly in private equity during the 12th five-year period between 2011-2015, Wang said.
