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KKR teams with GIC to form non-banking finance company in India

Kohlberg Kravis Roberts and Singapore’s sovereign wealth fund GIC have formed a non-banking financial company to provide structured credit solutions in the real estate sector in India. This is KKR’s second non-banking financial company in India. Since 2009, the firm has provided more than $2 billion of structured financing to 21 business groups in India through its credit and capital markets business.

CVC, Singapore’s GIC to cut stake in HKBN listing-Reuters

HKBN Ltd, the second-largest broadband Internet provider in Hong Kong, filed late on Friday for an initial public offering, with shareholders including private equity firm CVC Capital Partners Ltd set to cut their stakes as part of the deal, Reuters reported.

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GIC to buy IndCor from Blackstone for $8.1 bln

Blackstone said late Monday that it has agreed to sell IndCor Properties to GIC, Singapore’s sovereign wealth fund, for $8.1 billion. IndCor, as a result, will no longer be pursuing an IPO, the statement said. IndCor owns and operates a portfolio of 117 million square feet of industrial properties throughout the United States. Eastdil Secured, Citigroup, Barclays and RBC Capital Markets acted as advisors to Blackstone.

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Carlyle to buy six Georgia-based natural gas power plants

Carlyle has agreed to acquire a majority stake in Southeast PowerGen, which has six natural gas-fired power plants in Georgia. The sellers are ArcLight Capital Partners, Singapore-based sovereign wealth fund GIC and GE Energy Financial Services. No financial terms were disclosed.

new dawn
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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.

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