Singapore’s sovereign wealth fund GIC is preparing to throw its hat in the ring for Rio Tinto’s multi-billion-dollar auction its infrastructure assets in West Australia’s Pilbara region and Canada.
GIC has mandated JPMorgan to help prepare a bid for the Rio assets, sources said on the condition of anonymity. The $US1.2 trillion ($1.7 trillion) sovereign wealth investors is running the ruler over both the Pilbara power assets and the Canadian ones that Rio Tinto has earmarked for the deal, the sources added. Together, these are expected to be worth about $7 billion.
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