GIC is one of the three funds that Singapore's Ministry of Finance uses to manage the country's reserves and other national financial assets, the other two being MAS and Temasek—which gets the bulk of our interest because Temasek tends to swing for the fences whereas GIC is much more conservative, benchmarking growth above the worldwide inflation rate.
That said, GIC is a major sovereign wealth fund with US$847bn in assets.
From Asian real estate mavens Mingtiandi, October 2:
Singapore sovereign giant GIC, the Canada Pension Plan Investment Board (CPPIB), and US-based data centre provider Equinix have formed a joint venture to develop data centre campuses in the US, with the partners targeting to raise over $15 billion to fund the construction of hyperscale facilities that will eventually provide more than 1.5 gigawatts of capacity.
Under the terms of the agreement announced Tuesday, GIC and CPPIB will each hold a 37.5 percent interest in the JV, with Equinix taking the remaining quarter stake. In addition to the partners’ equity commitments, the venture also expects to take on debt to raise its total investable capital to more than $15 billion over time.
The JV marks the latest investment in the digital infrastructure space by Equinix’s partners, with GIC having previously teamed up with the NASDAQ-listed player for data centre ventures in Asia Pacific, Europe, and the Americas. CPPIB last month announced that it had teamed up with Blackstone in the $16 billion acquisition of Australia-based data centre platform AirTrunk....
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