Singapore’s sovereign wealth funds continue to step up their investment in resources companies.
As Dow Jones Newswires reports on Friday, the Government of Singapore Investment Corp. bought a 5% stake in U.S. listed global agribusiness and food processing company Bunge Ltd., with a market value close to $500 million.
The fund bought 7.305 million shares in Bunge but did not disclose the price at which the shares were purchased.
Both GIC and Temasek Holdings are increasing their exposures to resources and commodities companies as they diversify away from their financial-sector focused portfolios.
Resources now account for roughly 3% of both fund’s portfolios.
GIC invested $400 million in Glencore International AG’s IPO as a cornerstone investor last year, the second-biggest investor in the IPO.
And Temasek became the biggest shareholder in U.S. fertilizer maker The Mosaic Co. when it bought a 6.5% stake in the company last December for around $893 million.
wsj.com
As Dow Jones Newswires reports on Friday, the Government of Singapore Investment Corp. bought a 5% stake in U.S. listed global agribusiness and food processing company Bunge Ltd., with a market value close to $500 million.
The fund bought 7.305 million shares in Bunge but did not disclose the price at which the shares were purchased.
Both GIC and Temasek Holdings are increasing their exposures to resources and commodities companies as they diversify away from their financial-sector focused portfolios.
Resources now account for roughly 3% of both fund’s portfolios.
GIC invested $400 million in Glencore International AG’s IPO as a cornerstone investor last year, the second-biggest investor in the IPO.
And Temasek became the biggest shareholder in U.S. fertilizer maker The Mosaic Co. when it bought a 6.5% stake in the company last December for around $893 million.
wsj.com
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