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GIC said to be in US$8b deal to buy Blackstone's property unit

World's biggest private equity firm has reached in-principle agreement to sell the industrial property company to GIC-led group: Sources

Published Tue, Nov 4, 2014 · 09:50 PM
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GIC Pte Ltd's planned purchase of Blackstone Group LP's US industrial property company signals the Singapore investment agency's appetite for real estate even as investments by other state funds wane (See what GIC has been buying).

The Singapore fund, which manages more than US$100 billion, is leading a group to buy Blackstone's IndCor Properties Inc (See IndCor's portfolio companies) for more than US$8 billion, two people for more than US$8 billion, two people with knowledge of the matter said.

The GIC partnership is seeking US$5 billion…

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