The Government of Singapore Investment Corporation, which is estimated to have assets worth more than $300 billion is turning its focus to emerging markets and private equity after sustaining big losses on the stakes it purchased in UBS and Citi.
The firm said at a media conference yesterday in Singapore that it was looking for more secure longer-term investment performance after observing the public market woes tied to the Asian financial crisis, the dotcom slump and the contracting global credit markets of the past year.
