GIC Pte, the Singapore sovereign-wealth fund, is the buyer of Blackstone Group LP (BX)’s stake in London’s Broadgate office complex, according to two people with knowledge of the transaction.
GIC is buying 50 percent of Broadgate, a cluster of 16 office buildings, shops and restaurants on 30 acres (12 hectares) in the City of London financial district, according to the people, who asked not to be named because the deal is private. Blackstone agreed to sell the stake for more than 1.7 billion pounds ($2.7 billion), Bloomberg reported on Aug. 20. Full story
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