News

GIC of Singapore expands US student housing portfolio

StudentsSingapore sovereign wealth fund GIC has participated in a deal to acquire student accommodation in the US worth $1.1 billion. The fund has a 45% stake in the newly acquired portfolio. Canada Pension Plan Investment Board has an equivalent stake and Scion Group, a specialist real estate manager, has 10%. “We remain confident in the student housing sector,” said Lee Kok Sun, chief investment officer, GIC Real Estate. Scion Group established a joint venture with GIC and the Canada Pension Plan Investment Board to invest in US student housing in 2016. So far, the venture has completed $4 billion of investments. The new acquisition includes 22 properties bought from affiliates of Harrison Street Real Estate Capital and two communities formerly owned by investors affiliated with Scion Group. ©2018 funds global asia

Executive Interviews

INTERVIEW: Operational challenges

Jun 09, 2018

Caroline Higgins of Northern Trust tells George Mitton about A-share inclusion, ETF Connect and why Cayman funds predominate in the region.

INTERVIEW: Making a name

Apr 18, 2018

Formed by a merger in 2012, Old Mutual Global Investors was little-known in Asia. Carol Wong, managing director for Asia-Pacific, is changing that. She talks to George Mitton.

Roundtables

HONG KONG ROUNDTABLE: a long-term project

Jun 09, 2018

Our panel discussed robo-advisers, ETF Connect, and why the mutual recognition of funds (MRF) scheme will take time to develop. Chaired by George Mitton in Hong Kong.

SINGAPORE ROUNDTABLE: Small nation, big ambitions

Apr 18, 2018

Our cross-industry panel discussed fund passporting, robo-advisers and the potential of a new investment structure, the S-Vacc. Chaired by George Mitton in Singapore.