Government of Singapore Investment Corp. (GIC), the Singapore government’s sovereign wealth, has announced its new Singapore investment to purchase a 20 percent stake in US based Oncor Electric Delivery Co. according to Bloomberg.
The Singapore investment in Oncore is worth $1.25 billion and is in conjunction with Canada’s Ontario Municipal Employees Retirement System (Omers).
Government of Singapore Investment Corp. (GIC) is a $100 billion Singapore investment fund and was founded by the Singapore government in 1981.
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