GIC invests $169 million in Brazilian water treatment company

Singapore sovereign wealth fund GIC Private has invested 300 million reais ($169 million) in a Brazilian water and sewage treatment company.

Aegea Saneamento e Participacoes S.A., an arm of conglomerate Grupo Equipav, said in an announcement on Tuesday that the investment will be used to help fund its growth plans. Currently it holds around 15%t of the private water and sewage treatment market in Brazil, according to its website.

GIC, which manages more than US$100 billion in reserves, jointly invested US$1.4 billion ($1.8 billion) with Global Logistic Properties, Canada Pension Plan Investment Board, and China Investment Corp last year to buy 40 properties in Brazil.