* Cinda to launch IPO on Monday, pricing set for Dec. 4

* Cornerstone investors taking up about 45pct of offer

* Norges Bank makes its biggest cornerstone commitment

* IPO has generated $5 bln in anchor investor demand

By Fiona Lau and Denny Thomas

HONG KONG, Nov 24 (Reuters) - A group of 10 investors, including Norway's sovereign wealth fund and Och-Ziff Capital Management Group LLC, have together committed to buy about $1.1 billion into China Cinda Asset Management Corp as part of its Hong Kong IPO, people familiar with the matter said on Sunday.

Cinda, one of China's four bad debt managers, is seeking to raise $2.5 billion through the Hong Kong IPO and the offer has attracted interest from distressed debt investors, hedge funds to China's insurance giants. Together, the so-called cornerstone investors would buy about 45 percent of the initial public offering (IPO), which is set to be Hong Kong's biggest this year.

Norges Bank Investment Management, the world's biggest sovereign wealth fund, has pledged about $150 million to the IPO, making its biggest ever cornerstone commitment, one person familiar with the matter told Reuters.

Norges Bank's pledge underscores the support from a long-term investor for the IPO that has polarized the Asian investment community, the person added.

The IPO, which is set to be launched on Monday, has generated an additional about $5 billion from anchor investors, the person added. Cinda is set to price the IPO on Dec. 4.

China Life Insurance Co and Och-Ziff Capital are each committing $200 million, while Temasek Holdings unit Farallon Capital Management has agreed to buy $100 million, people familiar with the matter said.

Oak Tree, the world's largest distressed debt investor, is pledging about $53 million, while Ping An Insurance is committing $75 million to the IPO, the people added.

Cinda, along with its underwriters, had to turn down some bids on the cornerstone tranche due to heavy demand, a separate source said. Cornerstone investors in IPOs receive a guaranteed allocation in exchange for agreeing to retain their stakes for a set amount of time.

Demand for the IPO is driven in part by the view that China's financial system is set for an increase in non-performing loans as the economy slows. That increases the need for the services provided by Cinda and the other three bad debt management firms.

RISING BAD LOANS

Already bad loans held by Chinese banks climbed by 24.1 billion yuan ($3.96 billion) to 563 billion yuan at the end of September, marking the largest quarterly rise in the volume of bad loans since the fourth quarter of 2005.