Singapore sovereign wealth fund GIC Pte Ltd is in talks to sell its 71% stake in US real estate firm Yes! Communities Inc to Canada’s Brookfield Asset Management, according to Bloomberg, citing a source with knowledge of the matter.
The deal could value the stake, which GIC acquired in 2016 for US$2 billion, at more than $10 billion, the news agency says in a report on September 16, adding that the talks with Brookfield are still ongoing and there is no guarantee of a successful outcome.
Spokespersons for Brookfield and GIC did not immediately respond to questions from Asia Asset Management.
The potential sale comes a time when GIC views the investment environment as increasingly challenging. Lim Chow Kiat, chief executive officer of the wealth fund, said in July that investors are facing “a world in flux”, and that the “cyclical, structural, and foundational shifts that we have been observing have intensified”.
GIC doesn’t publicly disclose its asset data. The Sovereign Wealth Fund Institute estimates GIC had around $936 billion of assets as of March 2025.
