Singapore's GIC plans to reinvest $30 billion in hedge funds, bullish on global macro, quantitative, and multi-strategy.

Singapore's sovereign wealth fund, GIC, will inject an additional $30 billion into hedge funds over the next three years, marking one of the largest funding injections into this thriving industry. Bryan Yeo, Group Chief Investment Officer, stated that GIC's investments in hedge funds have doubled in size over the past decade, although he did not disclose the exact amount. He emphasized that global macro, quant, and multi-strategy hedge funds are the key areas for GIC's expansion. According to estimates by Global SWF, GIC manages assets worth around $936 billion. This move will further solidify GIC's significant position in the hedge fund industry. GIC has historically supported Bridgewater Associates and its founder, Ray Dalio; recently divested from Jain Global, which had agreed to manage funds specifically for Millennium Management a few months ago. In addition, GIC has also invested in funds managed by Castle Investment and Viking Global Investors.