The mystery group propping up a new $300 million fund targeting investment in Australian neighbourhood shopping centres has been revealed as Singapore's sovereign wealth fund GIC, as the smaller end of the retail sector wins increasing interest from institutional investors in the wake of COVID-19.
A number of market sources said GIC was behind the "daily needs" fund recently launched by one of Perth's biggest landlords, ASX-listed property fund manager Primewest. Primewest would not comment on its capital partner.
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Ingrid Fuary-Wagner is the AFR's explainer editor, based in Sydney. She previously wrote about property and before that was news editor at Domain. Connect with Ingrid on Twitter. Email Ingrid at ingrid.fuary-wagner@afr.com
