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Singapore’s GIC Offloads Some PE Interests to CS Strategic Partners

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CS Strategic Partners, the secondary private equity group of Credit Suisse, won the bidding to purchase a portfolio of private equity interests from Singapore’s GIC. CS Strategic Partners purchases secondary interests in private equity funds from investors needing liquidity. In the overall scheme of private equity, the secondary market is still a niche sector.

Singapore’s GIC manages those investments through its sovereign wealth enterprise (SWE), GIC Special Investments. The GIC has been keen on selling a number of private equity interests since the end of 2011. The carrying value of the sale was less than US$ 500 million and was made up of mostly US private equity fund interests.

GIC worked with UBS AG to manage the process.

Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Property Bureau Moves Assets to Thailand King Under 2017 Law

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In December 2016, Crown Prince Maha Vajiralongkorn became King of Thailand, succeeding his father King Bhumibol Adulyadej who passed away in October 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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