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peHUB First Read

This Thursday morning read all about special situations firm Solace Capital’s maiden offering, ECI closing its tenth fund and GIC giving PE firms a run for their money.


KKBOX snags $104 mln from GIC

Asia-based music streaming service provider KKBOX has received $104 million from Singapore-based sovereign wealth fund GIC. According to the firm, the capital infusion will be used for overseas expansions as well as to fine-tune its technology and service.


Venari Resources raises additional $1.3 bln from private equity group

Deepwater oil exploration company Venari Resources has raised an additional $1.3 billion from a group of investors. Venari’s management and existing investors Warburg Pincus, Kelso & Company, Temasek and The Jordan Company were joined by new investors GIC and BlackRock Private Equity Partners. To date, Venari has raised $2.4 billion, including $1.1 billion when the company was formed in May 2012.

Laxfield Capital provides debt for Urbanest

Laxfield Capital, a specialist UK commercial mortgage investment manager, has completed a loan facility for student accommodation provider Urbanest. The Laxfield Lending Programme is backed by GIC, Singapore’s sovereign wealth fund.


Insight Venture Partners to acquire iParadigms

iParadigms is to be acquired for $752 million by Insight Venture Partners and GIC, Singapore’s sovereign wealth fund. iParadigms is a provider of cloud-based educational technologies to prevent plagiarism, verify content, and evaluate student learning.


EQT Mid Market acquires I-MED Radiology Network

EQT Mid Market is to acquire Australia-based I-MED Radiology Network, a diagnostic imaging network. Caisse de dépôt et placement du Québec of Canada and Singapore-headquartered GIC will be investing alongside EQT Mid Market.


GIC invests in Intelligent Energy

Intelligent Energy Holdings and GIC, Singapore’s sovereign wealth fund have invested approximately $63 million in the company.The investment takes the form of a new issue of 15,129,468 Ordinary Shares to GIC, representing 10 per cent of the company’s enlarged issued ordinary share capital immediately following the placing of shares to GIC.

Singapore’s Ascendas, GIC to invest in India property – Reuters

Singapore warehouse and industrial park developer Ascendas has set up a programme with a target asset size of S$600 million ($481.60 million) to invest in Indian real estate, focusing on business space, writes Reuters. Singapore sovereign wealth fund GIC is a principal investor in the programme.

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