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Sovereign Wealth Funds Briefing - Categorized | Performance

GIC faces potential losses as Tishman, BlackRock Default on Stuyvesant Town

Posted on 11 January 2010

From Temasekreview.com: Singapore’s Government Investment Corp. (GIC) faces potential losses of more than SGD$1 billion dollars in another failed overseas investment, this time in an upscale apartment complex in New York – Stuyvesant Town.

The sprawling Manhattan apartment complex known as Peter Cooper Village and Stuyvesant Town was acquired for $5.4 billion in 2006 by Tishman Speyer Properties and a unit of BlackRock Inc…………………………………..Full Article: Source


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