Page 2 - Gic

Special Situations Fund: Kotak Mahindra Bank arm raises $1.25 billion

The overall targeted amount for the second fund, which will be domiciled in the GIFT City, is $1.6 billion

Profit-led rally in GIC may fizzle out sans turnaround in underwriting biz

Unless the underwriting business starts looking up, brokerages are reluctant to give a buy call on the stock despite the recent rally

Irdai endorses panel's view to cut obligatory cession to zero from 4%

The obligatory cession was reduced from 5 per cent to 4 per cent in FY23. The regulator has been reducing the obligatory cession over time

GIC, ESR Group set up $600 mn India JV to buy industrial, logistics assets

The new JV, in which GIC is an 80% owner, is an extension of an existing partnership between the entities in the country.

GIC, ESR to set up $600 mn-fund to invest in industrial assets in India

Singapore's sovereign wealth fund GIC and ESR Group Ltd have formed a joint venture to set up a USD 600 million-fund to acquire logistics and industrial assets in India. On Thursday, GIC and ESR announced an 80:20 strategic partnership to establish the fund worth USD 600 million (around Rs 5,000 crore) to acquire the "income-producing assets". ESR is already developing various industrial and logistics parks across major Indian cities. The joint venture represents an extension of the existing partnership in India between the GIC and ESR, which was initiated in 2020, with the initial capital pool dedicated to investing in development and value-add to logistics and industrial opportunities across India. It will invest in stabilised operational assets in strategic locations across Tier 1-2 cities in the country, according to a statement. With an upsurge in the share of organised retail and e-commerce, supported by emerging sectors such as electric vehicles and semiconductors, the ...

PE, Sovereign funds making larger investments in Indian tech firms

PE funds like Advent, TPG, Temasek and GIC have sped up their investments in India with larger cheques of $100 million or more

GIC, Capital Group buy KKR's entire stake in Max Health; stock surges 10%

KKR sold the entire 26.8% stake worth Rs 9,400 cr as part of its exit strategy

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5% to 4% for 2022-23. The impact of the reduction on GIC Re will be Rs 2,000 crore

GIC Pte, ADIA and Norway Sovereign Wealth Fund to invest in LIC IPO

Norges Bank Investment Management, GIC Pte and Abu Dhabi Investment Authority will be among the anchor names due to be announced Monday, the people said, asking not to be identified

Private InvIT IRB Infrastructure Trust completes Rs 243 crore fundraising

IRB Infrastructure Developers in a statement said that post fundraise, IRB and GIC affiliates will continue to hold 51 per cent and 49 per cent, respectively, in the InvIT

IRB Infrastructure eyes Rs 5,347 crore from GIC, Spain's Ferrovial

This is the largest fundraise by a road developer

GIC Housing Finance's bad loans spike to 11.4% in Q1, solvency weakens

The deterioration in the asset quality would further impact GICHF's earnings profile, and consequently, its internal capital generation

Phoenix Mills, Singapore's GIC set up JV to invest in retail properties

GIC will acquire minority stake in PML's portfolio of retail‐led mixed‐use properties

Supply chain tech startup Locus raises $50 mn from Qualcomm, Tiger Global

Series C funding led by Singapore's sovereign wealth fund GIC; Falcon Edge and a clutch of angels also participate

Phoenix Mills, GIC to set up investment platform in India with $733 mn

Phoenix Mills Ltd and GIC have partnered to establish a $733 mn investment platform for retail-led mixed-use assets in India

ESR, GIC to buy Australian logistics property portfolio from Blackstone

Logistics real estate manager ESR Cayman Limited said it will join with Singaporean sovereign wealth fund GIC to buy an Australian portfolio from Blackstone for $2.9 billion

Loews Corp to sell 47% stake in packaging subsidiary to Singapore's GIC

Loews, which owns firms in the insurance, energy, hospitality and packaging industries, expects to receive about $410 million in cash as part of the deal, resulting in about pre-tax gain of $490 mn

NHB slaps Rs 47,000 fine on GIC Housing Finance for violating guidelines

Housing finance regulator National Housing Bank (NHB) has imposed a fine of Rs 47,000 on GIC Housing Finance for violation of the guidelines.

GIC, ESR Cayman form $750-million joint venture to invest in logistics

The JV will be seeded with a 2.2 million sq ft build-to-core asset, located in close proximity to the large consumption hubs of Mumbai and Thane

GIC, Hong-Kong-based ESR form JV to invest $750 mn in Indian realty

Sovereign wealth fund GIC announced a joint venture with the Hong Kong-headquartered ESR Cayman to form a $750 mn joint venture which will develop and acquire industrial and logistics assets in India.