Singapore’s CPF-funded sovereign wealth fund company, Government Investment Corporation of Singapore (GIC), headed by Prime Minister Lee Hsien Loong has recently made numerous high profile purchases in billions in the couple of months.
Although GIC is a sovereign wealth fund (SWF) company, unlike other SWF, it hardly declares its latest investment holdings and interests. Despite being stakeholders, Singaporeans are not privy to the information as the company shrouds in secrecy.
Below are some of the deals covered recently established:
Nov 7, 2016 – GIC spent S$3.69 billion (€2.4bn) to buy Czech-based real estate conglomerate, P3 Logistics Parks
Nov 4, 2016 – GIC to sell shares of Philippines Shakey’s Pizza in its IPO for undisclosed sum
Nov 4, 2016 – GIC invests an estimated S$259 million (£150 million) in UK property company, Orchard Street Investment Management.
Oct 20, 2016 – GIC invests up to S$1 billion on warehouses through its subsidiary Indonesia warehouse provider PT Mega Manunggal Property Tbk
Oct 14, 2016 – GIC partners with US-based Fortis Inc. to invest S$15.69 billion (US$11.3bn) in US Michigan-based electricity utility company, ITC Holdings Corp.
Oct 14, 2016 – (Unconfirmed news) GIC partners with Blackstone Group LP to purchase India-based developer, DLF Cyber City Developers Ltd
Aug 29, 2016 – GIC spent an estimated S$555 million (USD$400m) to buy 7.73% in Vietnam bank, Vietcom bank