Singapore --Government Of Singapore Investment Corp., or GIC, has opened an office in Mumbai to grow its business in the rapidly expanding south Asian nation, the sovereign wealth fund said in a statement.
Mumbai, where the manager of the island nation's foreign exchange reserves will place more than 10 investment and asset management officials, is the eighth overseas office of GIC, it said in a statement.
"GIC has been amongst the earliest institutional investors in emerging Asian markets," Tony Tan, the deputy chairman and executive director, was quoted as saying in the statement. "In India, GIC has been investing across the public and private markets since the early 1990s. The setting up of the India office demonstrates GIC's commitment to secure a larger role in the Indian growth story,"
GIC, with a portfolio valued at more than $185 billion, has invested in several Indian companies including ICICI Bank Ltd., the nation's second biggest lender, and Fortis Healthcare Ltd.
Source: http://online.wsj.com
Mumbai, where the manager of the island nation's foreign exchange reserves will place more than 10 investment and asset management officials, is the eighth overseas office of GIC, it said in a statement.
"GIC has been amongst the earliest institutional investors in emerging Asian markets," Tony Tan, the deputy chairman and executive director, was quoted as saying in the statement. "In India, GIC has been investing across the public and private markets since the early 1990s. The setting up of the India office demonstrates GIC's commitment to secure a larger role in the Indian growth story,"
GIC, with a portfolio valued at more than $185 billion, has invested in several Indian companies including ICICI Bank Ltd., the nation's second biggest lender, and Fortis Healthcare Ltd.
Source: http://online.wsj.com
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