Singapore sovereign wealth fund GIC has redeemed around $250m from Jain Global, less than two years after backing one of the hedge fund industry’s largest-ever launches, according to a report by The Business Time citing sources familiar with the matter.
GIC was among the earliest investors in the New York-based multi-strategy firm and is expected to take up to two years to fully exit its remaining exposure. The redemption comes as the wealth fund undergoes internal leadership changes within its...
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