The Sejong-based agency will allocate at least 70% of the capital to developed markets in North America and Europe.
The $109 billion Canadian pension fund joins Lunate-backed Axight as a minority shareholder after the latter acquired a 27% stake from Brookfield earlier this year.
GIC is reportedly a prospective investor in the continuation fund, which values the South Korean gas manufacturer at $3.18 billion, up 13.5% from 2023.
The pension worked with Hamilton Lane on the secondary acquisition of an interest in the approximately $31 billion open-end real estate fund.
Blackstone Strategic Partners X has secured approximately 73% of its $22 billion target.
The fund's predecessor, Strategic Partners Real Estate VIII, closed with $2.6 billion in capital commitments in 2023.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The GP staker will support the Australian property investor's growth across distribution, product development, and institutionalization.
The potential deal is reportedly comprised mostly of LP stakes in Asian private equity funds, including vehicles managed by EQT, TPG Asia, and KKR.
The direct infrastructure secondary increases Transurban's ownership across three major Sydney transport networks.
