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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments, Performance

GIC incurs loss after Tishman misses Stuyvesant Town payment

Posted on 12 January 2010

From Businessweek.com: Government of Singapore Investment Corp., manager of more than $100 billion of the city-state’s foreign reserves, reported losses from its investment in Manhattan’s largest residential enclave.

Tishman Speyer Properties LP and BlackRock Inc. said on Jan. 8 they missed a bond payment tied to their $5.4 billion purchase of the 80-acre property, which includes Stuyvesant Town and Peter Cooper Village apartments……………………………………Full Article: Source


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