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3 m below the surface

The Spillway

The deals GIC chose to announce, in its own words

GIC publishes no list of its investments. What it does publish, a few dozen times a year, is an announcement of a particular deal — and those announcements are the only place GIC ever names a company, a price, and its own role in the same sentence. This district reads all 107 newsroom items GIC has posted, and pulls out the 80 that describe a transaction.

What a press release is, and is not

These are the deals GIC chose to announce, in the words GIC or its counterparty chose. That makes the set self-selected, incomplete, and skewed toward the transactions someone wanted publicised — a new platform, a flagship name, a record price. Absence from this table means nothing at all. 30 of the 80 state no amount whatsoever. Read it as a sample of GIC's public voice, never as a portfolio.

Where GIC is named as leading the round announced

In 10 of these announcements, the text names GIC itself as leading or co-leading. That is the strongest claim GIC makes about any single investment.

DateAnnouncementAmount statedValuation stated
2026-06-04 Ramp Raises Series F at $44 Billion Valuation $750 Million $44 Billion
2026-02-12 GIC Leads $30 Billion Series G in Anthropic $30 Billion $380 billion
2025-11-03 Infravision Raises $91 Million Series B Led by GIC to Revolutionize Power Infrastructure Construction with Aerial Robotics $91 Million —
2025-10-27 Wealthsimple Announces $750 Million Equity Round at $10 Billion Post-Money Valuation to Accelerate Growth $750 Million $10 Billion
2025-10-01 Temporal Announces $105M Secondary Led by GIC at $2.5B Valuation $105 million $2.5B
2025-09-30 Vercel Closes Series F at $9.3B Valuation to Scale the AI Cloud $300M $9.3B
2025-04-22 Altruist Raises $152M Series F Led by GIC to Accelerate Innovation for Growth-Oriented RIAs $152M —
2024-01-31 Zum Fast-Tracks Revolution To Modernize School Transportation With $140M Funding Round Led by GIC $140M $1.3 billion
2023-12-13 Vegrow raises US$46M in Series C funding round led by GIC US$46M —
2023-09-07 H2 Green Steel raises €1.5 billion in equity to build the world’s first green steel plant €1.5 billion —
“Amount stated” is the transaction figure as the announcement writes it; “valuation stated” is the company's price where the release gives one. The two are different things and are never merged here. A bare $ is left ambiguous rather than assumed to be US dollars.

Every announced transaction announced

DateAnnouncementAmountGIC's role, as written
2026-06-04 Ramp Raises Series F at $44 Billion Valuation $750 Million led
2026-05-28 Anthropic raises $65B in Series H funding at $965B post-money valuation $65B participated
2026-05-08 Brookfield and GIC Complete Record A$6.7 Billion Acquisition of National Storage REIT A$6.7 Billion acquisition
2026-05-04 Anthropic Partners with GIC to Launch Enterprise AI Services Firm not stated joint venture or alliance
2026-04-28 Neoenergia Strengthens Partnership with GIC Through Third Agreement in Transmission R$2.4 billion acquisition
2026-04-01 SAZABY LEAGUE Announces Partnership with GIC for Business Growth not stated joint venture or alliance
2026-03-25 Harvey Raises at $11 Billion Valuation from GIC and Sequoia to Scale Agents Across Law Firms and Enterprises $200 million participated
2026-03-19 Prologis and GIC Form $1.6 billion U.S. Build-to-Suit Logistics Joint Venture $1.6 billion joint venture or alliance
2026-02-12 GIC Leads $30 Billion Series G in Anthropic $30 Billion led
2026-01-29 GIC and Sony Music Group Announce New Investment Partnership not stated acquisition
2026-01-12 Realty Income Establishes Strategic Partnership with GIC $200 million joint venture or alliance
2025-11-03 Infravision Raises $91 Million Series B Led by GIC to Revolutionize Power Infrastructure Construction with Aerial Robotics $91 Million led
2025-10-27 Wealthsimple Announces $750 Million Equity Round at $10 Billion Post-Money Valuation to Accelerate Growth $750 Million led
2025-10-21 Hologic to be Acquired by Blackstone and TPG for up to $79 per Share $18.3 billion acquisition
2025-10-21 Entrevias Enters a New Growth Phase Supported by VINCI Highways and GIC not stated acquisition
2025-10-01 Temporal Announces $105M Secondary Led by GIC at $2.5B Valuation $105 million led
2025-09-30 Vercel Closes Series F at $9.3B Valuation to Scale the AI Cloud $300M led
2025-09-24 TenneT secures equity funding for TenneT Germany through future partnership with large institutional investors in Europe EUR 9.5 billion joint venture or alliance
2025-09-11 Vantage Data Centers Secures $1.6B Investment in APAC Platform from GIC and ADIA $1.6B participated
2025-09-02 Anthropic raises $13B Series F at $183B post-money valuation $13B investment
2025-08-04 MasOrange, Vodafone Spain and GIC join forces to create Spain’s largest fibre optic company €5bn joint venture or alliance
2025-07-14 Partners Group and a consortium of minority investors, including GIC, TPG Rise Climate, and Mubadala to invest in next growth phase at Techem EUR 6.7 billion acquisition
2025-05-13 GIC and Citco Announce Strategic Partnership not stated joint venture or alliance
2025-05-13 GIC Sponsors Impart’s Youth Mental Health Programme not stated joint venture or alliance
2025-04-22 Altruist Raises $152M Series F Led by GIC to Accelerate Innovation for Growth-Oriented RIAs $152M led
2025-03-17 GIC Becomes Minority Investor in Cimed not stated joint venture or alliance
2025-03-04 Ramp Deepens Investor Bench, Valuation Grows to $13 Billion $150 million not characterised
2025-02-28 Apax Funds increase their investment in ECI Software Solutions $10 billion joint venture or alliance
2025-02-14 Silver Lake and GIC Complete Acquisition of Zuora not stated acquisition
2024-12-18 GIC and TPG-Backed Asia Healthcare Holdings Announce Further US$150 Million Investment from GIC US$150 Million joint venture or alliance
2024-12-02 EQT and GIC to acquire majority stake in Calisen, a leading independent smart metering company in the UK not stated acquisition
2024-10-17 Zuora Enters into Definitive Agreement to be Acquired by Silver Lake and GIC for $1.7 Billion $1.7 Billion acquisition
2024-10-02 EQT Broadens Reworld Investor Base, Welcoming GIC as Strategic Investor not stated acquisition
2024-10-01 Equinix Agrees to Form Greater Than $15B JV to Expand Hyperscale Data Centers in the U.S. and Support Growing AI and Cloud Innovation US$15 billion joint venture or alliance
2024-09-24 Mr Gan Kim Yong appointed as Director of the GIC Board not stated participated
2024-09-19 Vauban Infra Fibre enters agreement for a strategic minority investment by GIC. not stated joint venture or alliance
2024-08-30 GIC Acquires High Quality Logistics Facility in Yokohama, Japan not stated acquisition
2024-07-23 GIC remains focused on long-term performance amidst profound uncertainties in the investment environment not stated joint venture or alliance
2024-07-02 MPTC and GIC to invest in Trans-Java toll roads USD 1 billion investment
2024-03-27 Sterlite Power and GIC announce joint venture to create a power transmission platform in India USD 13 billion joint venture or alliance
2024-03-14 IRB Infrastructure Developers Limited announces the acquisition of 24% stake in IRB Infrastructure Trust by Cintra, a subsidiary of Ferrovial, from GIC Affiliates not stated acquisition
2024-01-31 Zum Fast-Tracks Revolution To Modernize School Transportation With $140M Funding Round Led by GIC $140M led
2023-12-13 Vegrow raises US$46M in Series C funding round led by GIC US$46M led
2023-12-11 GIC Reaches Agreement To Buyout Cinven, Securing Independent Future For Miller not stated acquisition
2023-12-04 GIC Acquires Two Additional Logistics Facilities Developed by Daiwa House Industry in Greater Osaka and Fukuoka not stated acquisition
2023-10-31 Hotel Investment Partners announces new investment from GIC EUR 600m acquisition
2023-09-07 H2 Green Steel raises €1.5 billion in equity to build the world’s first green steel plant €1.5 billion led
2023-08-17 GIC and Barzel Properties Complete R$1.2 Billion Acquisition of Nine Carrefour Brazil Group Assets R$1.2 Billion acquisition
2023-07-20 GIC Invests in Aichi Logistics Facility Developed by Daiwa House Industry not stated acquisition
2023-07-04 GIC Affiliate and Genus Power & Infrastructures Limited (“Genus”) to set up a Platform to fund Smart Metering projects – USD 2 billion initial pipeline USD 2,000,000,000 investment
2023-06-29 Centerbridge Partners and GIC Complete Acquisition of INDUS Realty Trust, Inc. $868 million acquisition
2023-06-23 NUS Asian Institute of Digital Finance partners GIC to boost PhD education in digital financial technology not stated joint venture or alliance
2023-06-19 TagEnergy Issues an up to €570,000,000 (equivalent) Green Bond to Fund its Global Pipeline of More Than 4GW of Renewable Energy Projects €570,000,000 not characterised
2023-05-30 Industrial gases specialist Messer fully takes over joint venture Messer Industries – long-term strategic partnership agreed with GIC not stated acquisition
2023-05-19 Brookfield India REIT and GIC form strategic partnership to acquire two Grade-A assets in India US$1.4 billion acquisition
2023-05-04 RAILPOOL and GIC expand partnership not stated acquisition
2023-04-28 GIC acquires six logistics facilities from Blackstone for more than US$800 million US$800 million acquisition
2023-04-26 Neoenergia announces agreement with GIC for the sale of 50% of eight transmission assets BRL 1.2 billion joint venture or alliance
2023-04-11 GIC and Pagaya Technologies Extend Their Strategic Partnership for Years to Come not stated joint venture or alliance
2023-03-31 Bain Capital Private Equity and GIC to invest in WHI Holdings for its long-term growth not stated acquisition
2023-02-22 INDUS Realty Trust to Be Acquired by Centerbridge Partners and GIC in a Transaction Valued at $868 Million $868 Million acquisition
2023-02-17 GIC and Dream Industrial REIT Complete Acquisition of Summit Industrial Income REIT C$5.9 billion acquisition
2023-02-03 GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital $15 Billion acquisition
2022-11-07 Summit Industrial Income REIT Enters Into Agreement to be Acquired by GIC in Partnership With Dream Industrial REIT in C$5.9 Billion Transaction C$5.9 Billion acquisition
2022-10-26 The Management led by Eric Goupil gathers a consortium to acquire Unither Pharmaceuticals from Ardian not stated acquisition
2022-10-25 CHEPLAPHARM receives growth capital of €550 Million from two leading global investors €550 Million not characterised
2022-09-22 Sani/Ikos Group enters new strategic partnership agreement with GIC valuing the business at €2.3bn €2.3bn joint venture or alliance
2022-09-15 STORE Capital to be Acquired by GIC and Oak Street in $14 Billion Transaction $14 Billion acquisition
2022-06-27 GIC, OMERS Infrastructure and Wren House to Acquire Direct ChassisLink Inc. not stated acquisition
2022-06-21 GIC and APG acquire a substantial stake in The Student Hotel from Aermont Capital, valuing the company at €2.1 billion €2.1 billion acquisition
2022-05-30 GIC and Greystar Announce Acquisition of Student Roost from Brookfield not stated acquisition
2022-05-26 Aditya Birla Fashion raises primary capital from GIC not stated investment
2022-04-26 British Land sells 75% stake in the majority of its Paddington Central assets to GIC for £694m £694m acquisition
2022-01-26 GIC Becomes Strategic Investor in InterContinental Energy, Leading Green Fuels Company not stated investment
2021-12-06 Charter Hall and GIC Acquire 50 Marcus Clarke in Australia for A$335 million A$335 million acquisition
2021-11-03 GIC, Sequoia Capital, Primavera Capital Explore Net Zero Economy through USD$1 Billion Investment In Envision $1 Billion joint venture or alliance
2021-10-18 PPF Group to Sell a CETIN Group Stake to GIC not stated acquisition
2021-07-27 Starbucks Transitions Retail Business in South Korea to E-Mart and GIC not stated acquisition
2021-07-26 Arctic Green Energy and GIC Launch Ambitious Strategic Alliance for Clean Energy and Decarbonisation $240 million joint venture or alliance
2021-06-24 GIC invests RM750 million in Sunway Healthcare RM750 million acquisition
Announcements published by GIC at gic.com.sg/newsroom, enumerated from the site sitemap. Every English newsroom item fetched and read. Items are classified as transactions by their own role language (led, acquired, invested, joint venture) or by carrying a stated deal amount; corporate and reporting announcements are set aside and listed separately. Amounts are recorded only as the announcement writes them, with the currency preserved — no conversion, no inference.

Announcements per year announced

21 21: 62122: 112223: 212324: 132425: 182526: 1126
This counts announcements, not activity. A rise means GIC published more, which may or may not mean GIC did more. 27 further items — results, appointments, speeches — were set aside as non-transactional.

The company GIC keeps announced

Names appearing beside GIC in two or more of its own announcements, counted from the text:

Named alongside GICAnnouncements
Ontario Teachers' Pension Plan4
ICONIQ2
Sequoia Capital2
Baillie Gifford2
Blackstone2
General Atlantic2
Leonard Green2
Coatue2
CPP Investments2
TPG2
General Catalyst2
Read from phrases like “led by”, “co-led by” and “investors include”. Extracted from prose, so treat it as a reading of the announcements rather than a register of counterparties — a name can be missed when a release phrases the list unusually.

The same page, turned to Temasek announced

Temasek publishes announcements too, so the same reading can be run on both. Its newsroom turns out to be a different kind of document: of the 48 transactional items since 2021, 24 are treasury work — issuing, pricing or redeeming Temasek Bonds — against 11 investments and 1 divestment. Big numbers, but debt rather than deals, which is why they are labelled rather than counted together.

DateAnnouncementAmount statedKind
2024-06-18 Temasek Signs Agreement to Divest Pavilion Energy not stated divestment
2024-04-15 Breakthrough Energy, Temasek and Enterprise Singapore jointly establish “Breakthrough Energy Fellows – Southeast Asia”, a multi-year effort to accelerate the development of early-stage climate-tech solutions in the region US$150 million other transaction
2023-09-12 NTU, NUS, and Temasek to invest S$75 million to accelerate the commercialisation of deep tech ventures S$75 million investment
2022-06-06 Temasek launches GenZero, an investment platform company aimed at accelerating decarbonisation globally S$5 billion investment
2022-04-18 Sustainable Cooling At Tampines – Singapore's First Town Centre To Be Retrofitted With District Cooling not stated other transaction
2022-03-31 Votorantim and Temasek Launch Strategic Partnership with New US$700M Fund to Invest in Brazil US$700M investment
2021-12-08 Temasek and Schneider Electric Launch GREENext to Provide Sustainable and Resilient Energy-as-a-Service not stated other transaction
2021-11-18 Inaugural Singapore International Agri-Food Week to catalyse sustainable food production in Asia not stated other transaction
2021-11-10 Jaime Augusto Zobel de Ayala and Tan Chee Meng to join Temasek Board not stated other transaction
2021-11-10 CAAS Partners Singapore Airlines, Temasek to Advance Use of Sustainable Aviation Fuel not stated investment
2021-11-03 Temasek's Mandatory Conditional General Cash Offer for Sembcorp Marine Closes with 8.0% Acceptances not stated other transaction
2021-10-27 Temasek establishes 65 Equity Partners to support family businesses and entrepreneurs with regional or global aspirations S$4.5 billion investment
2021-09-30 HSBC and Temasek Launch Partnership to Catalyse Sustainable Infrastructure Projects in Asia US$150 million investment
2021-09-30 Our Gratitude and Thanks to Ho Ching and Lee Theng Kiat not stated other transaction
2021-09-30 Ajay Banga and Jenny Lee to join Temasek Board not stated other transaction
2021-09-22 Temasek Announces S$0.08 per Share Mandatory Conditional General Cash Offer for Sembcorp Marine not stated other transaction
2021-08-19 Bringing Distributed District Cooling to Our Town Centres – A Cool Solution for a Greener Singapore not stated other transaction
2021-07-30 DBS and Temasek jointly establish growth debt financing platform for Asia's growth stage technology-enabled companies US$500 million investment
2021-05-20 DBS, SGX, Standard Chartered and Temasek to take climate action through global carbon exchange and marketplace not stated other transaction
2021-04-13 Temasek and BlackRock Launch Decarbonization Investment Partnership US$600 million investment
Temasek's site refuses this host outright (Akamai 403). These pages were read through the box's residential-proxy browser, same-origin, and cached — a materially harder retrieval than GIC's, which is itself a small fact about the two organisations' web posture rather than their disclosure policy.

Two newsrooms, read the same way

Since 2021GICTemasek
Transactional announcements8048
Of those, stating an amount5014
Treasury / bond itemsnone — GIC does not issue24
Named as leading a round100
Both columns are counts of press releases, not of activity. The one asymmetry that is structural rather than editorial: Temasek raises debt in public markets and must announce it, while GIC does not issue at all — so its newsroom has no treasury column to fill.

Why this district sits so near the surface

Everything here is published by GIC on purpose, which makes it shallow water. But it is also the only water where GIC speaks in specifics: a named company, a stated price, a declared role. Compare it with The Glass Pool, where the specifics are compelled by a regulator rather than volunteered, and the difference in tone is the whole point — announcements arrive when GIC wants them, filings when the law demands them.

Temasek's holdings, filed quarterly and priced to the dollar, are in The Open Book.