For every dollar invested, we bring in more than 8, Hong Kong investment chief says

Official support and collaboration with private capital are critical for sovereign wealth funds to succeed, the head of Hong Kong’s government-owned investment vehicle has said, as she spelled out strategies needed to deliver high returns. At the inaugural Nusa Dua Forum organised by the South China Morning Post and Indonesia’s sovereign wealth fund Danantara in Bali on Friday, Hong Kong Investment Corporation (HKIC) CEO Clara Chan Ka-chai said that partnerships were key to its strong performance. She was speaking at a panel discussion with Blue Pool Capital CEO Oliver Weisberg that was moderated by SCMP publisher Tammy Tam. “For every dollar we invest, we bring in more than eight from international patient capital such as sovereign wealth funds, pension funds and universities,” Chan said. The forum brought together 120 participants ranging from Indonesian and Hong Kong officials, sovereign fund operators, family office leaders and institutional investors in Bali, which is aiming to become a global financial centre. The HKIC announced last week that it generated about HK$6.46 billion (US$824 million) in investment income in 2025, a 175 per cent year-on-year increase. It also reported a 14 per cent net internal rate of return. Chan attributed the success to the government’s leadership and political will, defined by “very clear certainty of policy”. “We are very focused,” she said. “We invest only in high-growth, high-impact themes.” From the start, the HKIC had focused on innovation and technology, including artificial intelligence, robotics, biotechnology, health tech and green tech, she said, adding that the fund adopted an ecosystem approach to investing. The strategic investor now has about 200 firms in its portfolio, with roughly 70 per cent of its capital placed in early and growth-stage companies. Since 2024, 10 companies in its portfolio have listed in Hong Kong, and more than 30 additional ones plan to follow suit this year. “Many of these companies are not only establishing long-term headquarters in Hong Kong, but are also collaborating with our universities and nurturing younger generations,” Chan said. “They are also setting up corporate venture capital arms to nurture more companies. This is a strong model – an ecosystem mindset.” Family offices were among the HKIC’s key partners, sharing a focus on patient capital, she added. “They often have deep domain expertise and a longer-term approach to portfolio planning,” Chan said. “That naturally complements HKIC’s vision, as we also invest patient capital across sectors.” She said that such long-term investments provided “a natural buffer” against market volatility. Blue Pool Capital, the Hong Kong-based family office of Alibaba Group Holding chairman Joe Tsai, is one of the partners. Alibaba owns the SCMP. Weisberg said that Blue Pool and the HKIC held similar views on patient capital. “The way I would describe both our relationship with Clara and her team and other partners we work for, it’s really about shared values and shared understanding of what the risk is and then alignment,” he said. “I learned from my old boss, Ken Griffin, that alignment of interest is really the most important thing in a partnership.” Griffin is the founder and chief executive of the hedge fund Citadel, which has about US$67 billion in assets under management. Weisberg said that Blue Pool’s portfolio included long-term family assets such as the Brooklyn Nets basketball team in New York – “ones that we plan to have in the family forever”. He added that alignment and a shared understanding of risk were crucial when partners disagreed over deals. “It’s really about shared values and shared understanding of what the risk is and then alignment,” Weisberg said. “When I sit down with Clara and other partners and demonstrate this is why we think we should do something, it’s always with incredible thought, analysis, discipline, but also our own capital.” He also noted that Blue Pool was often the largest investor in its deals, reinforcing accountability. Chan said that early and open communication helped resolve disagreements when potential collaborations were being explored. “If there are no disagreements, I’m not doing my job properly,” she said. “When partners push back, it means I am holding a high standard and negotiating hard for the government and for Hong Kong.” Marco Poon, managing director of family office Greenbury Capital, said that the firm targeted “real” assets such as property, land, precious metals and infrastructure, which could be passed down through generations. “Sustainability is another word for continuity,” Poon said.

For every dollar invested, we bring in more than 8, Hong Kong investment chief says

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Hong Kong Investment Corporation head Clara Chan explains her strategies at Nusa Dua Forum organised by SCMP and Indonesia’s sovereign wealth fund Danantara

Hong Kong Investment Corporation head Clara Chan explains her strategies at Nusa Dua Forum organised by SCMP and Indonesia’s sovereign wealth fund Danantara