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GIC appoints secondaries head

GIC is the world's second-biggest private equity investor with at least $43bn committed to private equity, secondaries, private credit and distressed debt.

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GIC has picked a senior vice-president to lead its secondaries investment team.

The Singapore sovereign wealth fund has made New York-based Brian Kapetanis its head of secondaries, according to his LinkedIn profile. He joined GIC in 2014 from mid-market buyer Newbury Partners and was most recently a senior vice-president.

Kapetanis did not respond to a request for comment by press time.

In March, senior vice-president Jeremy Weisberg left GIC to lead the New York secondaries operation at Canada Pension Plan Investment Board, as Secondaries Investor reported. Weisberg had been at GIC since 2015 after four years with Pantheon. He ranked sixth in Secondaries Investor’s 2016 Young Guns of Secondaries list of the most impressive industry professionals under 36.

Deals GIC has backed over the past 18 months include an $875 million strip sale by China Ping An Insurance Overseas, led by Montana Capital Partners. It was also one of six firms to digest a roughly $2.5 billion portfolio offloaded by CPPIB in the third quarter of last year.

GIC is the second-biggest private equity investor in the world, according to affiliate title Private Equity International‘s Global Investor 100 ranking. According to that ranking, 12 percent of its assets were committed to private equity, secondaries, private credit and distressed debt, equivalent to $43.2 billion.