LONDON (April 11): Singapore's US$344 billion ($483 billion) GIC-led the sovereign investor pack in the first three months of 2017, sealing two of the biggest investments of the quarter.

Wealth funds and state pension funds participated in a total US$9 billion of deals in January-March.

GIC teamed up with private equity firm Hellman & Friedman in a US$1.9 billion deal for a 75% stake in Spain's Allfunds Bank, and paired with Paramount Group to acquire 60 Wall Street, a "trophy asset" in downtown Manhattan, for US$1.04 billion. The 47-storey tower serves as the US headquarters of Deutsche Bank.

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