[London 8 Reuters]-According to Refinitive data, government fund acquisitions in the third quarter totaled $ 24.6 billion, up from $ 15.5 billion in the previous quarter. Large projects from Singapore's government fund GIC, Temasek Holdings, and China Investment Corporation (CIC) boosted the whole.
The number of projects announced in the third quarter involving government funds was 49, an increase from 46 in the second quarter.
The total acquisition in the second quarter was $ 15.5 billion, the highest level since the second quarter of 2018, when it recorded $ 35.8 billion.
According to Refinitive data, the largest in the third quarter was the Canadian railway asset management company Brookfield Asset Management <BAMa.TO> and GIC, the US railway holding company Genesee & Wyoming. The acquisition is about 8.7 billion dollars including debt.
“These businesses are stable and provide peace of mind in situations where returns and yields are uncertain,” said Javier Kapé, director of the government fund research organization IE Center for the Governance of Change.
GIC is also participating in the acquisition of US Tallgrass Energy <TGE.N>, which handles energy infrastructure such as pipelines, as well as private equity (PE) Blackstone.
The future of the UK's withdrawal from the European Union (EU) remains uncertain, but Saudi government fund Public Investment Fund (PIF) has invested $ 550 million in Babylon Healthcare Services. The Abu Dhabi Investment Agency has also agreed to a 30% stake in Domestic and General, which handles repair services for home appliances.