You are here

Abu Dhabi Fund said to buy Time Warner building with GIC

The sovereign funds seek to diversify investments by upping stakes in alternative assets

Deep pockets: Time Warner Center, home to the headquarters of Time Warner Inc, in New York. Lead developer of the Time Warner Center, Related Cos, is in talks to buy the media company's 1.1 million sq ft of space for US$1.3 billion and bring in partners that include GIC. - PHOTO: BLOOMBERG

[SINGAPORE] Abu Dhabi Investment Authority, one of the world's biggest sovereign wealth funds, is investing alongside Singapore's state fund GIC Pte in the headquarters of Time Warner Inc in New York City, according to a person with direct knowledge of the transaction.

The person, who...

Market voices on: