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Sovereign Wealth Funds Briefing - Categorized | Investment

GIC taking 49% stake in NZ project

Posted on 06 November 2014

Singapore sovereign wealth fund GIC is making its foray into the New Zealand real estate sector with an investment in a major Auckland waterfront precinct. GIC is taking a 49 per cent stake in a joint venture with New Zealand-listed Goodman Property Trust (GMT), which holds the other 51 per cent of the partnership.
The joint venture will invest in Auckland’s Viaduct area with an initial portfolio of assets worth NZ$313 million (S$313 million), said GIC and GMT’s manager Goodman (NZ) in a joint statement………………………………………..Full Article: Source


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