Nov. 20 (Bloomberg) -- General Electric Co., down 61 percent this year in New York, is seeking funds from China Investment Corp., Government of Singapore Investment Corp. and at least two other sovereign-wealth funds.

Talks are also being held with Temasek Holdings Pte of Singapore and China Safe Investments Ltd., Brussels-based spokeswoman Elma Peters said in a phone interview today. China Investment Corp. is the nation's $200 billion sovereign wealth fund.

Chief Executive Officer Jeffrey Immelt has lowered his 2008 profit target twice and last month he raised an additional $3 billion in the sale of preferred shares to investor Warren Buffett's Berkshire Hathaway Inc. Asian talks follow an $8 billion venture with Abu Dhabi's Mubadala Development Co. as GE taps infrastructure spending outside the U.S., where a recession is deepening. Getting partners to become shareholders has the added advantage of establishing a more stable investor base.

Talks with ``a number'' of sovereign wealth funds interested in water-technology projects have been held, Steve Bolze, who runs GE's power and water unit, said yesterday in a phone interview from Belfort, France.

GE, based in Fairfield, Connecticut, was little changed at $14.40 in German trading as of 12:17 p.m. local time.

Peters confirmed earlier comments from GE international head Ferdinando Beccalli-Falco, reported by the Financial Times Deutschland. Jennifer Lewis, a spokeswoman at GIC, declined to comment on the report, as did a spokeswoman for Temasek.

Asia has attracted global engineering companies, including Siemens AG of Germany and Alstom SA of France, as governments build-out power networks and infrastructure. China plans to spend almost $150 billion over five years to bolster networks after power demand outstripped capacity, causing blackouts.

GE's third-quarter earnings rose 31 percent at its Energy Infrastructure division, which supplies power-plant equipment.

To contact the reporter on this story: Andrew Noel at anoel@bloomberg.net.

Last Updated: November 20, 2008 06:41 EST