China-Africa Development Fund

China-Africa Development Fund is a sovereign wealth fund headquartered in Beijing, China. Established in 2007 by the China Development Bank as an investment vehicle in Africa, the fund invests in stock, convertible bonds and other quasi-entity type of investments in Africa. It also invest in a fund of fund type of investment. The firm aims to promote economic cooperation between China and Africa and advance Africa's economic development by investing directly in Chinese enterprises which have set up operations in Africa or plan to invest in Africa, it will push Chinese and African enterprises to reach their cooperation targets and facilitate infrastructure construction, as well as enhance the social and economic development of African countries.