GIC and Northstar Buy into Indonesian Oil (Asia)

Source: Financial Times  |  Author: Henny Sender

Indonesian investment firm Northstar Pacific Partners has invested US$200 million alongside Singapore’s sovereign wealth fund Government of Singapore Investment Corporation (GIC) for a minority stake in Indonesian palm oil producer Triputra Agro Persada. The investment consists of equity and convertible bonds, and the terms of the agreement allow Northstar and GIC to invest an additional US$50 million at a later date.