Singapore's GIC to buy 30 pct stake in Onex-backed BBAM: Reuters

Singapore’s sovereign wealth fund GIC said this week it would buy a 30 percent stake in BBAM, the world’s largest manager of investments in leased commercial jets, Reuters reported. GIC will buy the stake through partial sales by BBAM’s two existing shareholders, its management team and Canadian private equity firm Onex Corp, GIC said in a statement. Following the purchase, all three parties will have joint minority ownership of the company. GIC did not disclose the financial terms of the deal. BBAM drew a 50 percent investment from Onex in 2012 for US$165 million.

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