GIC’s São Paulo office in Brazil is its tenth worldwide and is headed by Wolfgang Schwerdtle, who has been with the firm for five years. He would be responsible for building a strong network of business relationships in the region and actively seek investment opportunities for GIC.
The company said it is “actively sourcing” investment opportunities in areas such as real estate, healthcare, financial and business services, natural resources and infrastructure. As a long-term investor, GIC said it is keen to partner with, and invest in, businesses with strong long-term growth prospects.
GIC group president, Lim Siong Guan, said: “GIC’s presence in Brazil is another step in our strategy to be present in key financial capitals around the world. Local partners and insights add to our global understanding of value investment opportunities.
“To stay ahead in an increasingly competitive landscape, we will continue to leverage our ability to invest on a multi-asset class basis, respond quickly to investment opportunities both large and small, and adopt a long-term view in our investment commitments.”
Although emerging markets remain volatile, GIC is confident of the long-term Latin America growth story, according to Lim Chow Kiat, group chief investment officer.
“Our presence in Brazil will enable our partners to engage early and interact closely with the GIC team, which is very beneficial for complex and sizeable investments,” Kiat said.
GIC said its partners will benefit from having access to its global network of business contacts and market insights.
Set up in 1981, GIC is wholly owned by the Government of Singapore, with more than $100bn in assets under management. The firm manages Singapore’s foreign reserves and adopts a long-term investment strategy across a wide range of asset classes, including real estate, private equity, fixed income and equities.
The fund has made investments in over 40 countries and has been investing in emerging markets for more than two decades.
Headquartered in Singapore, GIC has its offices in London, Mumbai, Beijing, Shanghai, Seoul, Tokyo, San Francisco, and New York.