Singapore's GIC invests $400 million in U.S. energy infrastructure company AEI

 SINGAPORE (Thomson Financial) - The Government of Singapore Investment Corp. (GIC) said on Tuesday its private equity investment arm GIC Special Investments (GIC SI) has invested $400 million for an 11 percent stake in U.S.-based energy infrastructure company AEI.

'GIC SI views its investment in AEI as gaining exposure to the growing energy infrastructure market in developing countries,' a GIC spokesperson told Thomson Financial.

'AEI is a substantial business with a well diversified portfolio of energy infrastructure assets. GIC SI sees this as an opportunity to make a substantial investment in AEI until the company achieves a stock exchange listing.'

AEI, which manages interests in 36 energy companies globally across Latin America, Europe and Asia, said on its website that a GIC SI nominee has also been appointed to AEI's board.

'We believe GIC's track record of long-term results in their investments is very much aligned with our approach to continued growth and long-term commitment to our energy infrastructure business and the development of the markets we serve,' said James Hughes, AEI's chief executive officer.

Sovereign wealth fund GIC manages more than $100 billion worth of assets worldwide.

($1 = S$1.36)