GIC appoints new Asia private equity head

Tan joined in 2001 as an economist and switched to private equity four years later. Since then, she has worked on primary fund commitments and co-investments in Europe and Asia, and in 2016, led and developed GIC’s newly formed global secondaries team as a separate strategy within the PE division.

Most recently, Tan was co-head of global investments, strategy, and risk for private equity, a position she held for three years.

GIC claims to have invested well over USD 100bn while independent assessments put its wealth at more than USD 300bn. As of March 2022, it had a 17% allocation to private equity, up from 15% a year earlier. Private equity was the second-largest portfolio component after bonds and cash.

Last year, the sovereign wealth fund said it was increasing its private equity exposure as part of a broader alternatives-oriented effort to ensure that returns keep pace with elevated inflation. Real estate exposure rose from 8% to 10% over the same period.

GIC also emphasised portfolio diversification and alternative scenario planning in the face of resurgent inflation. Real estate and infrastructure offer protection because they outperform nominal bonds in a high-inflation environment. Private equity, meanwhile, offers growth so that returns do not trail inflation.

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• Topics
• Southeast Asia
• LPs
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• Singapore
• GIC Private
• Appointments