Singapore’s GIC announces name change
Singapore sovereign wealth fund Government of Singapore Investment Corporation Private Limited has changed its legal name to GIC Private Limited.
"The name change formalizes the widely-used brand name of ‘GIC' in the global investment community and markets that GIC operates in," the group said in a statement. It added that operations will not be affected.
GIC claims to have invested well over $100 billion in a wide range of assets but independent assessments put its wealth at more than $300 billion. It serves as an LP in many of the region's largest funds as well as being an active direct investor, alongside GPs and independently.
GIC's exposure to alternative assets was 27% for the year ended March 2012. Of this, private equity and infrastructure accounted for 11%, up from 10% the previous year, with real estate, absolute returns and natural resources on 10%, 3% and 3%, respectively.
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