Daily Dispatches: CIC invests in Apax

eFC logo

China Investment Corp has invested €685m into Apax Partners' €11.2bn fund in a groundbreaking deal that could tempt other private equity groups to solicit the financial support of the Chinese sovereign wealth fund. (Financial Times)

China Life Insurance (Overseas) - the Hong Kong unit of China Life - earned a net profit of HK$510m in 2009, while nets assets surged 40 percent from a year ago, deputy chairman and president Liu Tingan said yesterday. (The Standard)

The head of Bank of Singapore, the newly renamed private banking unit of OCBC Bank, has set out ambitious goals for the business that would expand its reach to Europe and the Middle East. (Asia One)

Macquarie Group has achieved another win in its campaign to expand its US operations, appointing a top Wall Street executive to run its debt capital markets business. (The Australian)

Meanwhile, Macquarie is looking into an incident in which a Sydney employee was caught on live television browsing topless photographs on his desktop computer as a colleague discussed monetary policy. (Bloomberg)