GIC Opens New Office in Brazil
01 April 2014
GIC, Singapore’s sovereign wealth fund, officially opens a new office in Brazil today, its 10th worldwide, to focus on investment opportunities in Latin America.
The opening of GIC’s office in São Paulo reflects its commitment to Latin America. As a long-term value investor, GIC is actively sourcing for opportunities in areas such as real estate, healthcare, financial and business services, natural resources and infrastructure. GIC is keen to partner with, and invest in, businesses with strong long-term growth prospects.
"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. We believe our partners will gain from having access to GIC’s global network of business contacts and market insights. Although emerging markets remain volatile, we are confident of the long-term Latin America growth story," stated GIC Group Chief Investment Officer, Mr Lim Chow Kiat.
GIC Group President, Mr Lim Siong Guan, added, "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."
The GIC office in Brazil is headed by Dr Wolfgang Schwerdtle. Dr Schwerdtle has been with GIC for five years. He will build a strong network of business relationships in the region and actively seek investment opportunities for GIC.