Singapore’s sovereign wealth fund GIC is preparing to divest as much as $2bn of private credit holdings, turning to the secondary market as institutional investors increasingly use portfolio sales to actively manage exposure to alternative assets, according to a report by Bloomberg.
Thew report cites unnamed people familiar with the matter, as revealing that the fund has engaged investment bank Evercore Inc to advise on the transaction. The assets being marketed are part of GIC’s longer-standing allocation to private credit, with the sale understood to reflect a broader effort to rebalance and refresh maturing positions within its portfolio.
GIC reportedly declined to comment on the process, while Evercore did not respond to requests for comment.
GIC has been an active participant in both primary and secondary markets across private equity and credit. In recent years, it has periodically sold down legacy fund interests, including exposure to managers such as Blackstone Inc. and Apollo Global Management as part of broader portfolio management activity.
The latest planned sale follows earlier secondary transactions by the sovereign wealth fund, including efforts to reduce exposure to private equity funds and other alternative strategies as part of ongoing allocation adjustments.
