Government of Singapore Investment Corp. Private Ltd. has changed its legal name to GIC Private Ltd.
The move formalizes what has become widespread usage of the GIC brand name, noted Jennifer Lewis, spokeswoman for the sovereign wealth fund set up by Singapore's government in 1981. The change will have no impact on the operations of the company, according to a GIC news release Tuesday.
For years, the GIC has described the value of its investment portfolio as exceeding US$100 billion. Market veterans estimate the current value of the portfolio between $250 billion and $300 billion.
