SHANGHAI - CHINA Investment Corp (CIC), the country's US$200 billion (S$291 billion) sovereign wealth fund, said it will start a new round of hiring globally to support an expansion of its operations.

CIC, which currently employs about 200 people, will seek professional staff in 33 categories, including risk management, real estate, infrastructure, commodities and hedge fund investment, according to its website.

'We are a new company, so it's natural for us to hire more people to grow,' a CIC spokesman said. She declined to indicate the exact number of people CIC plans to hire.

CIC, which became wary of overseas expansion after loss-making investments in Morgan Stanley and Blackstone , has recently shown renewed interest in overseas markets as the global financial crisis eases.

CIC added a US$2.2 billion stake in Morgan Stanley earlier this month and plans to open an office in London. The fund is also looking at five or six distressed asset deals in both Asia and the West, people familiar with CIC's plans have told Reuters.

'We think this (new hiring) means CIC is ready to resume postponed investment activities overseas,' said Michael McCormack, executive director of Shanghai-based fund consultancy Z-Ben Advisors.

'It's also likely to begin to take a more proactive approach in investment areas where it has not yet made much progress, such as private equity.' -- REUTERS