China Investment Corp (CIC), the country’s US$200 billion sovereign wealth fund, is considering investing in the flagging luxury goods sector, the South China Morning Post reported. LVMH Moet Hennessy Louis Vuitton, Compagnie Financiere Richemont and PPR are among the companies seeking investments from sovereign wealth funds such as CIC. Market sources told the paper that a potential deal could take the form of an equity stake of up to 10% and could include convertible bonds. Given the current capitalizations of the world’s five largest luxury goods companies, such a stake would be valued at anywhere between US$788 million to US$3.1 billion. Sovereign wealth funds such as CIC could also buy shares on the open market with an investment of US$100-200 million.