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Government Investment Corp (GIC)
M&A
GIC, Tencent in talks to form consortium for Universal Music Group stake
(Nov 18): Tencent Holdings is in talks with potential co-investors for its proposed bid for a minority stake in Universal Music Group from Vivendi SA, according to people with knowledge of the matter.
November 18, 2019
M&A
KKR and GIC buy 42.5% stake in Philippines' top hospital chain
(Oct 15): Philippines' Metro Pacific Investments Corp said on Tuesday it is selling a 42.5% stake in the country's largest hospital chain for 35.3 billion pesos ($937.6 million) to a consortium comprising private equity firm KKR & Co and an affil
October 15, 2019
Startups, Entrepreneurs, Digital economy
Indonesia online mall valued at US$2.5 bil after landing investment from including GIC
(Oct 4): PT Bukalapak.com raised capital from investors including Indonesian media giant Emtek and South Korea’s Shinhan Financial Group Co., a round of funding that valued the online marketplace at more than US$2.5 billion ($3.4 billion).
October 06, 2019
Sovereign wealth funds
Budweiser owes Singapore's wealth fund a drink
(Sept 24): The world’s biggest brewer should raise a glass to Singapore. Anheuser-Busch InBev NV can probably thank the city-state’s sovereign wealth fund for saving its Asian unit’s Hong Kong initial public offering from an ignominious second failu
September 24, 2019
Singapore's GIC leads US$500 mil investment in Vingroup unit
(Sept 9): A consortium led by GIC and Vingroup JSC has paid US$500 million ($690 million) for a minority stake in a retail unit of Vingroup, according to a statement from the Singapore sovereign wealth fund Monday.
September 10, 2019
Sovereign wealth funds
Singapore's GIC nears deal for stake in Oxford Fairmont hotels
(Sept 5): Singapore’s sovereign wealth fund, GIC, is nearing a deal to buy a majority stake in Oxford Properties Group’s Fairmont portfolio, which consists of four of Canada’s most iconic hotels, according to people familiar with the matter.
September 05, 2019
Healthcare
GIC and co-investors complete acquisition of Press Ganey Associates
SINGAPORE (July 29): The acquisition of Press Ganey Associates by a consortium of investors which included GIC, Singapore’s sovereign wealth fund, was completed on Friday.
July 29, 2019
Startups, Entrepreneurs, Digital economy
Trax gets US$100 mil funding, becomes Singapore's second unicorn
SINGAPORE (July 23): Warburg Pincus-backed image recognition technology firm Trax, a start-up that counts Heineken and Nestle among its clients, said it has raised US$100 million ($136 million) in its latest funding round, becoming Singapore's second
July 23, 2019
Singapore economy
China's Centurium Capital raises over $2.7 bil from GIC, Temasek, others
HONG KONG (July 3): China's Centurium Capital, a big backer of domestic startup Luckin Coffee, said it has raised more than US$2 billion ($2.7 billion) in its debut fund, giving the private equity firm more firepower to cut deals involving the world&#
July 03, 2019
Startups, Entrepreneurs, Digital economy
Singapore startup Trax is raising funds at $1.1 billion value
SINGAPORE (May 27): Trax, a Singapore-based startup serving the retail industry, is finalising a deal to raise US$100 million ($137 million) at a pre-money valuation of about US$1.1 billion, a price tag that could make it the second most valuable startup
May 27, 2019