GIC completed the investment in Sumitomo Bakelite.

GIC, a sovereign wealth fund, completed the investment in Sumitomo Bakelite, a chemical manufacturing company. Financial terms were not disclosed. "As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. As a result of the discussions between the parties, Sumitomo Chemical considers that GIC will be the best partner for Sumitomo Bakelite as the company strives to achieve the further growth of its business and enhance its corporate value," Sumitomo.