Singapore’s sovereign wealth fund GIC is joining a consortium led by CVC Capital Partners – with support from Brookfield Asset Management – in a bid for South Korean security services major ADT Caps, in a deal estimated to be in the region of 3 trillion won ($2.76 billion), Korea Economic Daily reported.
ADT Caps, wholly owned by the Carlyle Group, is the second largest security services provider in South Korea. Carlyle Group is expected to clock an estimated $1 billion in profits from the sale, managed by Morgan Stanley..
