| Singapore’s Government of Singapore Investment Corporation (GIC), the eighth largest sovereign wealth fund (SWF) with total AUM of US$345 billion, has purchased a 35% stake in a Brazilian shopping mall, Via Parque Shopping. GIC said in a statement that the fund has entered into an agreement with the country’s second largest listed mall developer, Aliansce Shopping Centers SA to purchase the majority stake in the shopping mall for for US$41.89 million.
The mall is located in a prime area to the west of Rio de Janeiro and has a gross leasable area of 56,802 square meters. The mall underwent renovation in 2013 and 2014 to improve its retail environment. GIC said that the acquisition reflects its confidence in the long-term growth prospects of the Brazilian retail sector...............................................Full Article: Source
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