GIC Private
PE and the debt crisis: Coping with chaos
Recent turmoil in the global markets has implications for private equity investors with an eye on exits, debt and fundraising
GMR Energy takes 30% stake in Indonesian coal mine
GMR Energy, a subsidiary of GMR Infrastructure, will buy a 30% stake in Indonesia’s T Golden Energy Mines for $450-550 million. The agreement includes an off-take clause that guarantees the Indian firm coal supplies rising to 10 million metric tons...
India’s GVK considers PE funding for roads business
GVK Power and Infrastructure is considering private equity funding for its roads business. Isaac George, CFO of GVK, said in an earnings conference call that a couple of investors have already expressed an interest in the company’s transport business.
Singapore's Mapletree acquires Hong Kong shopping mall
Singapore-based real estate investment firm Mapletree Investments will acquire Hong Kong’s popular shopping mall Festival Walk in Kowloon Tong for around HK$18.8 billion ($2.4 billion) from Swire Properties.
GIC announces improvement in returns over last fiscal year
The Government of Singapore Investment Corp (GIC) said returns on its portfolio increased during the fiscal year ending March 2011 as equities markets improved, but warned that global economic uncertainties continue to pose a significant risk.
Aberdeen launches real estate fund-of-funds in Asia
Singapore-based Aberdeen Asset Management Asia has launched a property fund-of-funds that is expected to raise up to $400million. It will help boost real estate exposure among institutional investors.
Sun Art raises $1.1b in Hong Kong IPO
Sun Art Retail Group, China’s largest supermarket operator, raised $1.1 billion through its Hong Kong IPO after pricing shares at the top of the indicative range.
Blackstone-backed Bluestar relaunches IPO efforts
Bluestar Adisseo Nutrition Group, which is part-owned by Blackstone Group, is targeting a $1.5 billion dual listing in Hong Kong and Paris, the Wall Street Journal reported, citing people familiar with the situation.
Blackstone, GIC unit look at LaSalle Japanese realty assets
Blackstone Group and Global Logistic Properties, which is majority-owned by the Government of Singapore Investment Corp. (GIC), are involved in separate talks to buy 20 industrial properties in Japan, the Wall Street Journal reported. The assets, thought...
GIC among cornerstone investors in Sun Art Retail IPO
The Government of Singapore Investment Corp. (GIC) is one of nine cornerstone investors that have committed $420 million for up to 40% of Chinese supermarket operator Sun Art Retail Group's Hong Kong IPO.
GIC executive director quits to run for president of Singapore
Tony Tan, executive director at Government of Singapore Investment Corp. (GIC), has resigned from his post to run for president of the city-state. He also quit his role as chairman of Singapore Press Holdings, which controls the majority of the local...
Private equity seeks Southeast Asia consumer plays
Southeast Asia consumer deals are increasingly attractive, but not necessarily easy to do
Morgan Stanley's China JV brokerage opens for business
Morgan Stanley's brokerage joint venture in China with Huaxin Securities has begun operations, having received a business license on May 30.
Ho Ching tipped to leave Temasek in summer
The CEO of Temasek, Ho Ching, is likely to leave her position in August, the Financial Times reported, citing people familiar with the situation. Ho has been married to Lee Hsien Loong, Singapore’s prime minister, since 1985. Lee recently became chairman...
CICC set to make RMB1.5b first close on new fund
China International Capital Corporation (CICC), the country’s largest investment bank, is set to announce the RMB1.5 billion ($231.5 million) first close of its new renminbi-denominated fund this week, a source close to the process confirmed to AVCJ....
Lee Hsien Loong takes over Lee Kuan Yew as GIC Chairman
Singaporean Prime Minister Lee Hsien Loong has been named chairman of top sovereign wealth fund the Government of Singapore Investment Corp. (GIC), taking over the role held by his father Lee Kuan Yew.
China Development Bank applies for stake in TPG
Government-owned China Development Bank (CDB) is reportedly seeking permission to purchase a stake in TPG Capital, coming one month after TPG sold a 4.5% stake to the Government of Singapore Investment Group (GIC) and the Kuwait Investment Authority (KIA).
Goldman's Taikang stake acquisition finalized
Goldman Sachs has acquired a 12.02% stake in China's Taikang Life Insurance Co Ltd. – a slice reportedly worth more than $900 million.
TPG sells minority stake to Singapore, Kuwait SWFs
US-based buyout major TPG has reportedly sold a 4.5% stake in itself to sovereign wealth funds the Kuwait Investment Authority and the Government of Singapore Investment Corporation (GIC). The raised capital is said to be used for TPG’s own expansion,...
GIC opens new office in Mumbai
The Government of Singapore Investment Corporation (GIC) announced its intent to open an India office in Mumbai March 31, its eighth overseas.
GIC-backed firm nears LSE debut
GIC-backed Ballarpur Industries, touted as India’s largest paper producer, is set to launch its overseas division Bilt Paper on the London Stock Exchange, targeting $330 million.
KKR-backed Far Eastern Horizon nears IPO
Private equity-backed Far East Horizon Ltd., a division of government-owned Chinese trading conglomerate Sinochem Group, has reportedly targeted $600 million ahead of its official IPO process in Hong Kong next week, according to Bloomberg.
Bain, GIC assist in Hero Honda buyout
Months after negotiations began between Japan’s Honda Group and India’s Hero Group to enact a strategy for Honda to exit the Hero Honda JV, Hero Group has officially bought out Honda’s 26% stake in the company, with private equity players Bain Capital...
Blackstone among suitors for Australia's Centro Properties
Debt-burdened Australian shopping mall owner Centro Properties Group is entertaining an acquisition bid from the Blackstone Group for its more than 700 Australian, New Zealand and US properties, with other PE majors also said to be eyeing the assets.