In a regulatory filing with the US Securities and Exchange Commission (SEC), GIC Private Ltd., a well-known fund manager based in Singapore, disclosed a new large ownership stake in Kohl’s. According to the report, GIC has acquired 5,543,944 shares of Kohl’s common stock, representing about a 5.01 per cent holding.
GIC is one of Singapore’s three investment institutions that handle the country’s reserves, together with the Monetary Authority of Singapore (MAS) and Temasek. Other big institutional investors in Kohl’s shares include Blackrock, Vanguard, T. Rowe Price, Dimensional Fund Advisors, State Street, and Macellum Advisors.
The move reflects rising investor interest in Kohl’s. According to sources, Vision One Management Partners, a Miami-based investment group, has also invested in Kohl’s and raised worries about the company’s future.
According to reports, which cite unidentified sources, Vision One has encouraged Kohl’s to launch a selling process and offer board representation to resolve its concerns.
