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Singapore's GIC remains the most active state-owned investor


Singapore's GIC has completed 72 deals worth USD40.3bn in 2022, up 17% from a year earlier. This makes GIC still the most active state-owned investor (SOI) for the fourth year in a row in 2022, according to sovereign wealth fund (SWF) tracker Global SWF. The report said that over half the capital was invested in real estate, with a “clear bias” towards logistics. Global SWF noted that there was a high level of activity among SWFs in 2022, with USD261.1bn invested in 747 deals. The amount invested was 13.6% more than in 2021. For the first time, however, assets managed by the world’s SWFs and public pension funds (PPF) declined. Global SWF estimates that assets under management (AUM) of SWFs fell 7.8% to USD10.6tr as of end-December 2022, while the AUM of PPFs fell 5.9% to USD20.8tr.

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