When greed is good: GIC, Temasek named most acquisitive firms in the world

The state is feeling the rush.

GIC Pte and Temasek Holdings Pte, the country’s state-owned investment firms, drained $15.7 billion for acquisitions, accounting for a third of all direct investments by state funds globally, according to data compiled by London’s Sovereign Wealth Center.

SWC declared it as the firms’ second year on top as the most acquisitive and active, with Temasek announcing two March purchases that totalled $8.9 billion, or 57% of what the two firms acquired last year.

Bloomberg recently reported that the firms’ acquisitions belittled investments by Norway, Abu Dhabi and China, countries managing assets more than GIC and Temasek combined.

Acquisitions of the two firms included significant stakes in London’s broadgate office complex, Goldman Sachs Group Inc., Repsol, and Dutch NN Group, among others.

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