China's sovereign wealth fund, presided over by a Duke trustee, is set to make a large investment in another trustee's Los Angeles-based investment firm.
Trustee Bruce Karsh's Oaktree Capital Management will soon get $1 billion from Trustee Gao Xiqing's China Investment Corp., the Wall Street Journal reported Saturday.
In addition to being a trustee, Karsh, Trinity '77, is president of Oaktree and chairs the board of the Duke University Management Company, which manages Duke's endowment. Karsh and his wife donated $20 million for undergraduate financial aid in 2008.
Gao, Law '86, has been a Board member since 2008 and is the general manager and chief investment officer of China Investment Corp.
The Journal reported that many hedge fund mangers have been traveling to Beijing to attempt to secure investments from China Investment Corp.
But Gao and Karsh may meet closer to the Gothic Wonderland this weekend, at the Board of Trustee's October meeting. Both are members of the Board's Business and Finance Committee.
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