Singapore invests billions into US
Singapore’s sovereign wealth fund is stepping up its investment in the US, targeting the energy and hospitality sectors.
Together with China’s government fund China Investment Corporation, the Government of Singapore Investment Corporation (GIC) is pumping $1 billion into a liquefied natural (LNG) gas plant in Louisiana, US media reported.
The money is being received by Cheniere Energy Partners, a Houston, Texas-based company that is currently building a $5.6 billion LNG project in the southern US state, expected to commence production by 2015. LNG will be exported to Asian countries, namely Japan, South Korea and India.
In another move, Singapore’s GIC is bidding $1.5 billion for a group of bankrupt hotels owned by US hedge fund Paulson & Co in Arizona and California. The $1.5 billion investment includes up to $1.12 billion in cash and paying off up to $360 million in debt.
GIC is already a big real estate investor in the US, owning the Franklin Center, a 60-storey skyscraper in Chicago.
[caption id="attachment_4271" align="alignleft" width="300"] The $5.6 billion LNG plant built by Cheniere Energy Partners in Louisiana will be partly financed by Singapore's and China's sovereign wealth funds[/caption] Singapore's sovereign wealth fund is stepping up its investment in the US, targeting the energy and hospitality sectors. Together with China's government fund China Investment Corporation, the Government of Singapore Investment Corporation (GIC) is pumping $1 billion into a liquefied natural (LNG) gas plant in Louisiana, US media reported. The money is being received by Cheniere Energy Partners, a Houston, Texas-based company that is currently building a $5.6 billion LNG project in the...
Singapore’s sovereign wealth fund is stepping up its investment in the US, targeting the energy and hospitality sectors.
Together with China’s government fund China Investment Corporation, the Government of Singapore Investment Corporation (GIC) is pumping $1 billion into a liquefied natural (LNG) gas plant in Louisiana, US media reported.
The money is being received by Cheniere Energy Partners, a Houston, Texas-based company that is currently building a $5.6 billion LNG project in the southern US state, expected to commence production by 2015. LNG will be exported to Asian countries, namely Japan, South Korea and India.
In another move, Singapore’s GIC is bidding $1.5 billion for a group of bankrupt hotels owned by US hedge fund Paulson & Co in Arizona and California. The $1.5 billion investment includes up to $1.12 billion in cash and paying off up to $360 million in debt.
GIC is already a big real estate investor in the US, owning the Franklin Center, a 60-storey skyscraper in Chicago.
