GIC to invest A$800m in Australia
GIC, Singapore’s sovereign wealth fund, has plans to invest A$800 million ($614 million) in Australia, according to local media outlets.
GIC has granted mandates of A$500 million ($384 million) to Charter Hall to invest in Brisbane and allocated A$300 million ($230 million) to Primewest to invest in Perth.
GIC has been active in its overseas real estate exposure. Recently, for its U.S. exposure, GIC and Paramount Group formed a 95-5 joint venture to acquire the office building at 60 Wall St. in Manhattan for $1.04 billion.