Singapore’s sovereign wealth fund cuts its stake in Irish housebuilder Glenveagh

GIC was one of the company’s first backers when it went public in 2017

Stephen Garvey, the chief executive of Glenveagh Properties. The Singapore sovereign wealth fund has cut its stake in the firmdown to 6.3 per cent. Picture: Fennell Photography

GIC, Singapore’s sovereign wealth fund, has reduced its stake by a third in Glenveagh Properties, the Irish housebuilder.

The company revealed In a stock market announcement yesterday that its shares in the Irish firm have dropped from just over 9 per cent to 6.3 per cent as of January 20. This came after GIC sold over 4 million shares over the past two weeks.

GIC is one of the largest wealth funds in the world, ...