Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

GIC Invests in 1 Billion Pound Mortgage Program, Laxfield Says

Jan. 28 (Bloomberg) -- Government of Singapore Investment Corp. invested in a mortgage program that will provide loans for commercial property in the U.K., Laxfield Capital said.

The lending program will invest as much as 1 billion pounds ($1.6 billion) over the next 24 months, Laxfield, a London-based mortgage company, said in a statement on its website. GIC, the Singapore sovereign wealth fund managing more than $100 billion of the city’s reserves, confirmed the investment in an e-mail and declined to disclose the amount of the funds injected.

Real estate investments accounted for 10 percent of GIC’s portfolio as of March 2012, unchanged from the previous year, the state fund said in its latest annual review, published in July. Property investments are “part of the diversified portfolio that GIC manages and serves as a good hedge against inflation,” according to a recent statement.

The Laxfield program “complements our existing direct junior debt investment strategy which we will continue to pursue,” Chris Morrish, regional head of Europe at GIC Real Estate said in the statement.

The program will provide loans between 40 million pounds and 185 million pounds with duration of five to seven years for commercial properties including office, residential and retail, Laxfield said. The program will also seek joint investments with other lenders where GIC will retain “a substantial junior investment in each loan,” according to the statement.

To contact the reporter on this story: Klaus Wille in Singapore at

To contact the editor responsible for this story: Andreea Papuc at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.