Government of Singapore Investment Corporation

The Government of Singapore Investment Corporation ( GIC ) is similar to Temasek Holdings, a body responsible for management of state funds authority which simultaneously manages several sovereign wealth funds of the State of Singapore.

The GIC does not provide detailed information on their investments. It manages investments of over 100 billion U.S. dollars. The GIC indicates not to operate as a strategic investor and therefore not to seek majority stakes.

The first investment fund under the cloak of GIC was established in 1981.

Investments

• In the spring of 2008 Fund bought the Authority about 9 billion euros a share of 9 % of the shares of the Swiss bank UBS and at the same time invested 4.4 billion euros in the banking giant Merrill Lynch.
• End of 2010, the Opera Tower in Frankfurt am Main was bought for around 550 million euros from a joint venture between the GIC and an institutional fund.