Singapore’s GIC Pulls $250 Million From Hedge Fund Jain Global

Singapore’s sovereign wealth fund GIC Pte has pulled cash from Jain Global, roughly 18 months after backing one of the biggest startups in hedge fund history.

GIC has redeemed $250 million from New York-based Jain, according to people with knowledge of the matter. The wealth fund was one of the earliest backers of Jain. It will take as much as two years for it to fully redeem from the fund, the people said, asking not to be identified because the details are private.