<article>Singapore&#8217;s sovereign wealth fund GIC is said to be shopping a portfolio of private equity fund interests valued at about $1 billion, according to <a href="https://www.pehub.com/buyouts/gic-perennial-seller-set-to-shop-another-billion-dollar-pe-portfolio/">a report by Buyouts</a>.</article>

Singapore&#8217;s sovereign wealth fund GIC is said to be shopping a portfolio of private equity fund interests valued at about $1 billion, according to <a href="https://www.pehub.com/buyouts/gic-perennial-seller-set-to-shop-another-billion-dollar-pe-portfolio/">a report by Buyouts</a>.
In July last year, GIC had reportedly offloaded around $1.7 billion of equity stakes to Goldman Sachs Asset Management. Earlier in 2018, GIC had joined Goldman Sachs in a $450-million GP-led restructuring of two Vector Capital funds.
In China, Sovereign Wealth Fund Institute Standard has reported that GIC has been <a href="https://www.swfinstitute.org/swf-news/gic-realigns-and-sells-off-more-cicc/">selling off its position in China International Capital Corporation Limited (CICC)</a> since 2017. Last week, the fund sold 2.47 million H-shares of CICC, trimming its stake from 8.1 per cent to 7.96 per cent.
The fund has also backed Chinese startup Luckin Coffee, which is said to be <a href="https://www.dealstreetasia.com/stories/luckin-coffee-us-ipo-119840/">eyeing an IPO in the US</a> that could raise about $300 million, which may offer an exit to GIC if it materialises.
The secondary market for alternative assets is slowly heating up, as Asia-focused funds&#8217; proportion of the market nearly doubled in the first half of 2018, according to a <a href="https://www.greenhill.com/content/greenhill%E2%80%99s-secondary-market-analysis-shows-record-deal-volume-during-first-half-2018">report by advisory firm Greenhill &amp; Co</a>.
In 2017, Australia&#8217;s biggest superannuation fund AustralianSuper had offloaded more than $900 million worth of shares in the tobacco sector. In December 2018, Hong Kong-based TPG struck a deal in a <a href="https://www.dealstreetasia.com/stories/lexington-partners-tpg-asia-113091/">Lexington Partners-led secondary transaction</a> for its fifth and sixth Asia-focused vehicles that represent a total capital commitment of about $1 billion. The proceeds from the sale are said to have helped raise capital for TPG&#8217;s latest Asian fund that achieved a <a href="https://www.dealstreetasia.com/stories/tpg-seventh-asia-buyout-fund-120697/">final close at $4.6 billion</a> on Monday.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/vietcombank-gic-mizuho-bank-116228/">Vietcombank to offload $270m stake to GIC, Mizuho Bank</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/china-luckin-coffee-gic-101699/">China’s Luckin Coffee raises $200m in GIC-backed round, now valued at $1b</a>

In July last year, GIC had reportedly offloaded around $1.7 billion of equity stakes to Goldman Sachs Asset Management.

Singapore's GIC said to be shopping billion-dollar PE portfolio

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Singapore's GIC said to be shopping billion-dollar PE portfolio

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