Singapore's Temasek and GIC were the most active sovereign wealth funds last year, chasing investments even as deal-making by their peers, especially China, dropped sharply, according to a new report.
GIC and Temasek made 40 and 38 direct investments respectively, for a combined total of $14.3 billion, accounting for around 34 percent of the total allocations by sovereign funds, the Sovereign Wealth Center (SWC) said in a report.
The pace hasn't slackened, with Bloomberg reporting, citing sources, that GIC is leading a group of investors interested in acquiring U.S.-based industrial-property real-estate investment trust (REIT) IndCor Properties from private-equity player Blackstone for $8 billion. Neither GIC nor Blackstone immediately returned emailed requests for comment.
What are they buying?