GIC slips from top spot as most active state-owned investor in 2023: report

FOR the first time in six years, Singapore’s GIC lost its top spot as the most active state-owned investor (SOI) globally in 2023, falling to second place in a list compiled by sovereign wealth fund (SWF) tracker Global SWF.

It was beaten by Saudi Arabia’s Public Investment Fund (PIF), which moved up three places from the previous year.

Likewise, Singapore’s state investment firm Temasek slipped off the top 10 list of most active SOIs for the first time since 2018, when Global SWF began tracking SOI activity.