Singapore wealth fund eyes massive deals

GIC was founded in 1981 to help manage the excess reserves for a fledgling 16-year-old country. Launched with a handful of local staff, borrowed office equipment and three fund managers from United States firms, it has since grown into a quiet giant in global finance.

SINGAPORE: As the world’s most acquisitive sovereign wealth fund turns 40, it’s never had so much money to manage – nor faced more challenges trying to manage it.

Two investment pillars that have helped fuel growth for Singapore’s GIC Pte – China and bonds – are under siege from inflation, geopolitics and regulatory crackdowns.