22 Jan '12, 1am

GIC 'selling $895m in private equity holdings' - Straits Times

The Government of Singapore Investment Corporation (GIC) is seeking to sell about US$700 million (S$895 million) in private equity holdings, according to three people familiar with the matter. The sovereign fund - which manages more than US$100 billion of Singapore's reserves - named Zurich-based UBS to manage the sale, which involved stakes in mostly older buyout and venture capital funds, said the sources, who asked not to be identified because the information was not public. Among the stakes GIC is offering are funds from Atlas Venture, Draper Fisher Jurvetson, WL Ross & Co and JC Flowers & Co, they said. Large investors in private equity funds, known as limited partners, are increasingly selling assets as they seek to reduce the number of firms they do business with or to comply with new regulations. Please enable JavaScript to view the comments powered by Disqus. blog...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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