Bitcoin

PHP's £700m JV with GIC is a debt-reduction move post-merger, reflecting the classic REIT playbook: recycle capital via JV equity rather than sell assets at depressed valuations. This fits a broader 2024-2025 trend of sovereign funds (GIC, ADIA, PIF) leaning into private infrastructure/healthcare while staying largely absent from crypto. The £700m (~$933m) is small relative to GIC's ~$800bn AUM, but signals continued appetite for UK healthcare real estate despite NHS funding pressures and higher-for-longer rates.

Primary Health Properties Plc formed a £700 million joint venture with GIC Pte to invest in UK private hospitals.