China Investment Corp (CIC), the country’s sovereign wealth fund, will buy a 15% stake in Singapore-listed Noble Group for US$850 million, Bloomberg reported. Noble, a commodity and raw materials supplier, will sell new and existing shares to CIC at 8.1 percent less than its traded price and includes 135 million shares owned by the company’s CEO, Richard Elman. "The newly issued shares will provide the Noble Group with additional capital to pursue strategic investments in key agricultural markets globally," Noble said in a statement. The sovereign wealth fund has been active over recent months with acquisitions including a 1% stake in Diageo for US$367.8 million and a 40% stake in CITIC Capital Holdings for about US$1.5 billion. However, the Noble deal also reflects China’s mounting interest in commodities firms. Commodity demand "is back on track in a very big way," CLSA said in a research note.