Singapore's GIC appoints CIO for private equity

The new CIOs - across infrastructure, real estate, fixed income and public equities, as well as private equity - sit below the group CIO and division presidents in the management structure. While Chow-Kiat Lim, most recently president of public markets, has been promoted to the group CIO role, Lim-Hock Tay remains the president for private equity and infrastructure.

Choo has been global head of direct investments for private equity since the start of 2016, adding to existing responsibilities as head of direct and fund investments for private equity in Europe. Before relocating to London to take up the latter role in 2014, he was head of direct and fund investments for Asia. Choo joined GIC in 1996 as an economist.

The new CIO for infrastructure is Eng-Seng Ang, most recently the London-based head of investments and relationships in Europe. Before that he was a senior investment officer and built up GIC's private equity business in Northeast Asia. Ang was appointed global head of infrastructure and direct investments in 2009.

"The appointment of chief investment officers reflect the maturing of GIC's investment talent, and strengthening of GIC's capacity to deal with an investment environment of lower returns, increased volatility, and greater uncertainty," Siong-Guan Lim, group president of GIC, said in a statement.

The sovereign wealth fund - which claims to have well over $100 billion in assets under management, while independent assessments put this figure at more than $300 billion - had a private equity allocation of 9% for the year ended March 2015.

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• Topics
• Southeast Asia
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• Sovereign wealth fund
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• GIC Private