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GIC to pay £48.5m for 50% stake in UK lifestyle complex

Fund already has stake in the development via JV with seller Hammerson

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GIC has made several forays into Europe this year. In November, the fund bought P3 Logistic Parks, a top European warehouse developer and manager, for 2.4 billion euros.

Singapore

SINGAPORE sovereign wealth fund GIC will pay close to US$60 million for a 50 per cent stake in a leisure and dining development in Britain, a joint statement said on Friday.

GIC, one of the world's top 10 state investment funds, will pay British property firm Hammerson £

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