GIC invests US$1.4b in joint venture with Indian developer DLF

Singapore

SINGAPORE sovereign wealth fund GIC is investing US$1.4 billion in a landmark joint venture with India's leading real estate developer DLF Ltd, in one of the largest private equity transactions in India in the real estate space.

The strategic partnership between GIC and DLF is to develop a rental assets portfolio under the consolidated portfolio of DLF Cyber City Developers Ltd (DCCDL), a subsidiary of DLF, said a statement issued jointly by GIC and DLF on Sunday.