GIC moves to sell up to $2bn in private credit assets

Singapore's Government Investment Corporation (GIC) is preparing to sell between $1 billion and $2 billion of private credit assets via the secondary market, according to Bloomberg reporting. The transaction, which remains in the marketing phase, reflects the sovereign wealth fund's broader strategy to actively rebalance and refresh its alternative asset portfolio rather than passively holding positions until maturity.

The fund has engaged Evercore Inc., a leading advisory and investment banking firm, to manage the sale process. Sources familiar with the matter indicate that the assets being divested form part of GIC's longer-standing private credit allocation and are largely mature positions. Both GIC and Evercore declined to comment on the transaction details.

This latest secondary market activity is consistent with GIC's established approach to portfolio management across private equity and credit. The fund has previously executed similar divestitures, including reductions in exposure to major alternative asset managers Blackstone Inc. and Apollo Global Management. These periodic secondary transactions underscore GIC's active management philosophy and its willingness to refresh holdings as part of strategic allocation adjustments.

The timing of GIC's planned divestiture aligns with broader institutional investor behavior in alternative asset markets. Large asset owners increasingly view secondary market sales as a portfolio management tool, enabling them to optimize exposure to illiquid assets and reallocate capital to higher-conviction opportunities. For GIC, which manages approximately $900 billion in assets globally, such transactions allow fine-tuning of alternative asset exposure while maintaining the fund's long-term investment thesis across private markets.