© Edwin Leong / Wikipedia
The Singapore-based sovereign wealth fund already has stakes in other key airports like London Heathrow Airport.
GIC, officially known as GIC Private Limited, is a sovereign wealth fund established by the Government of Singapore in 1981 to manage the country's foreign reserves. Its primary mission is to preserve and enhance the international purchasing power of these reserves by achieving good long-term returns above global inflation over a 20-year investment horizon.
According to GIC’s Report on the Management of the Government’s Portfolio for the Year 2022/23, GIC’s infrastructure portfolio includes companies that develop and operate airports, seaports, electricity utilities, renewable energy generation, fiber networks, and telecommunication towers.
Understanding the importance of the infrastructure sector, it has increased the size of its infrastructure portfolio by five times since 2016, with an annual deployment pace of US$10bn to US$20 billion in new commitments a year.
© Tony Hisgett / Wikipedia
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