GIC Participates in Massive Equity Infusion into FirstEnergy

Posted on 01/23/2018

A group of investors invested US$ 2.5 billion into Akron, Ohio-based FirstEnergy Corporation, a distressed Midwestern utility, which includes US$ 1.62 billion in mandatory convertible preferred equity and US$ 850 million of common equity. These investors include Singapore’s GIC Private Limited (through Cheyne Walk Investment Pte. Ltd.), affiliates of Paul Singer’s Elliott Management Corporation, private […]