Enter the new millennium, and GIC had grown as a global fund management company. It was managing a larger portfolio invested in a range of assets. It was also now investing in, and managing, property assets across the globe, and was a pro-active private equity investor in a range of industries.
These new areas of interest had grown to the stage where they merited their own autonomous business units. Thus in 1999, GIC initiated an internal restructuring, involving the corporatisation of special investments and real estate.
Three operating units were created: the Public Markets Group, investing in equities, fixed income, and money market instruments; GIC Real Estate, investing in real estate-related assets; and GIC Special Investments, handling investments in venture capital and private equity funds, as well as direct investments in private companies.
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