GIC expands European hospitality holdings with HIP acquisition, sells stake in Australian mall

Singapore’s GIC revealed its acquisition of a 35% stake in Hotel Investment Partners (HIP) from Blackstone, bolstering its European hospitality portfolio by 72 luxury hotels. GIC is strategically poised to capitalize on the post-pandemic surge in international tourism.

Concurrently, GIC divested its 49% stake in Chatswood Chase Sydney back to Australian retail property group Vicinity.

Lawrence Wong to serve as GIC’s deputy chairman starting 1 October

Deputy Prime Minister Lawrence Wong is set to become the deputy chairman of GIC from 1 October, following Mr Tharman Shanmugaratnam’s transition to Singapore‚Äôs ninth president. Additionally, Mr Wong leads the Monetary Authority of Singapore (MAS) as its chairman.

Singaporean blogger disputes GIC’s reported profits amidst contrary claims

Singaporean blogger Philip Ang challenges mainstream media portrayals of GIC’s positive performance in FY2023, suggesting potential losses may have been obscured. Ang cites concerns over GIC’s unique 20-year annualised real rate of return metric and questions the fund’s vulnerability amidst global financial turmoil.