Singapore’s sovereign wealth fund GIC has acquired a 10% interest in the sixth largest container terminal operator in the world, Terminal Investment Limited (TIL).
GIC acquired its 10% stake from Global Infrastructure Partners (GIP) and other existing co-investors.
TIL has a large portfolio that handles the container volumes of the 2M alliance, consisting of Maersk and MSC, in terminals located in Europe, Asia, North America, South America and West Africa.
Ang Eng Seng, chief investment officer of infrastructure at GIC, said: “We are pleased to invest in TIL, given its strong business alignment with its majority shareholder, MSC, and attractive growth potential from its pipeline of both existing and new terminals.
“We expect TIL to be well-placed to benefit from the increasing demand for containerised goods as global middle class and manufacturing outsourcing continue to expand.”
TIL was founded in 2000 in order to secure berths and terminal capacity in the major ports used by its largest customer, MSC.