GIC Roundup: Korean warehouse sold and minority stake in Klick acquired

SINGAPORE: Singapore’s sovereign fund GIC has been active, selling a warehouse in South Korea and acquiring a minority stake in healthcare marketing agency Klick in Canada.

In South Korea, GIC, in collaboration with South Korea’s Mirae Asset, sold a warehouse complex in Greater Seoul to DWS Asset Management. Market sources confirmed that the German investor purchased the Gonjiam Logistics Centre for KRW 1.4 billion (US$87 million).

It consists of two fully leased dry warehouses in Gwangju, a city in Gyeonggi province, just southeast of Seoul. The total gross floor area is 63,661 square meters (685,241 square feet).

Factors that contributed to the sale include the property’s age, suboptimal access to expressways, and rumours that South Korean e-commerce firm Coupang, its main tenant, planned to leave at the end of 2027.

Among developed economies, South Korea is the most sought-after market for warehouse tenants looking to expand, according to a CBRE report from June 2025. CBRE anticipates that leasing activity in this market will increase from the second half of 2025 as domestic political uncertainty and trade tensions ease, the consultancy stated.

In the healthcare sector, GIC has partnered with US private equity firm Linden Capital Partners to acquire a minority stake in Canada’s Klick Group, one of the largest healthcare marketing agencies globally.

This will see GIC and Linden purchase a minority stake from private equity firm GTCR. Financial details were not shared. The Financial Times reported that the deal values the Toronto-based company at nearly US$2.5 billion.

This investment comes after a series of strategic acquisitions by Klick, including US-based Peregrine Market Access and the Singapore operations of Ward6. These moves aim to strengthen Klick’s capabilities in market access, medical communications, and professional marketing.

Founded in 1997, Klick operates in New York, Toronto, London, São Paulo, and Singapore. It helps pharmaceutical and biotech companies develop, launch, and grow their brands. Among its services are marketing and advertising, media planning and buying, medical affairs, medical communications, market access, and omnichannel solutions.

The deal will see Klick co-founders Leerom Segal and Aaron Goldstein continue to lead the company. In a press release, Segal said, “We are excited about how this new investment will help accelerate the expansion of the breadth and depth of services Klick offers to support life sciences brands in achieving their full potential”.