GIC seeks to sell US$1 bil in private equity fund stakes - Bloomberg

Echo Wong & Preeti Singh / Bloomberg08-05

GIC is looking to offload some of its private equity stakes as the sovereign wealth fund taps the booming secondaries market to manage its investments, according to people familiar with the matter.(...

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The potential divestment includes funds from multiple global private equity managers, including EQT, TPG Asia and KKR & Co, some of the people said. PJT Partners is advising GIC on the deal, the people said. \nThe wealth fund reached out to potential buyers last month to gauge interest, the people added. The talks are at an early stage and details of any transaction could change, they said. \nRepresentatives from GIC, PJT Partners, EQT and KKR declined to comment. TPG Asia wasn't immediately able to comment. \nGIC has become more cautious on private market investments and is actively \"recycling\" capital across such strategies, chief executive officer Lim Chow Kiat said in an interview last month. 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In June, it finalised a separate sale of as much as US$2 billion of private credit assets.\nUploaded by Chng Shear Lane","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.47.1","shortVersion":"4.47.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2657742523","isCrawlerRequest":true}