Singapore’s GIC, one of the world’s biggest institutional investors, has said it will seek to buy stakes in multinational companies’ China units if they exit the country amid slowing growth and rising geopolitical tensions.
The sovereign wealth fund, which has estimated assets of more than $700bn, outlined the strategy as one way it would continue to invest in China, in its annual results presentation on Wednesday.
“There are companies that are rethinking, or have rethought, their focus and exposure in China . . . and are looking to de-risk, or sell down entirely, their businesses,” said Jeffrey Jaensubhakij, GIC chief investment officer, in an interview with the Financial Times ahead of the results.
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