GSBB Horizon Fund
Why GSBB Horizon Fund?
The GSBB Horizon Fund is an investment scheme that provides access to a diversified portfolio of early-stage real estate development projects and private equity investments across retail, media and electric vehicle (EV) infrastructure. The Fund adopts an integrated PropCo-OpCo investment model, combining property development and operating company exposure within a single structure. This approach is intended to support disciplined capital deployment, portfolio diversification and alignment across asset types, subject to market conditions and investment opportunities.
Our Strategy
Integrated PropCo-OpCo Model
We employ a unique strategy combining property development (PropCo) and operating company (OpCo) investments within a single vehicle. This integrated approach is designed to create synergies, enhance project value, and unlock growth opportunities across multiple sectors.
Dual-Focus on Real Estate and Private Equity
We target early-stage real estate development projects alongside private equity investments in high-growth sectors such as retail, media, and electric vehicle (EV) infrastructure, leveraging cross-platform integration for maximum impact.
Value Creation Through Synergies
By aligning property development with operating businesses, we aim to strengthen visibility, expand geographic reach, and accelerate growth through integrated advertising, distribution channels, and strategic partnerships.
Our Investment Approach
The Fund applies a structured investment approach across property development and operating company investments, supported by selective acquisitions, diversified allocation and flexible exit strategies
1. Property Development Focus
Invest primarily in retail and mixed-use development projects through PropCo structures, co-investing with experienced developers and partners with proven global track records.
2. Opportunistic Real Estate Acquisitions
Selectively acquire completed assets where strategic value, attractive pricing, or strong exit opportunities are identified.
3. Private Equity Investments via OpCo
Allocate capital to operating companies in sectors such as EV infrastructure, media and related ventures, including businesses with intellectual property and distribution assets seeking market expansion, where appropriate.
4. Leverage Global Networks
Utilise partner networks to secure premium commercial spaces and maximise the commercial potential of portfolio companies.
5. Flexible Exit Strategies
Seek preferential rights, revenue participation, and performance-linked instruments such as warrants or options to enhance returns and facilitate exits.
6. Balanced Allocation
Approximately two-thirds of assets directed to development projects; one-third to private equity and strategic investments, subject to market conditions and investment opportunities.
7. Target Returns
The Fund targets a minimum return on invested capital (ROIC) of 10% with a potential upside of 1.75x. Target returns are not guaranteed and are subject to market and execution risks.
Our Team
Investment Advisory Committee
Fund Information
Title | Description |
|---|---|
The Manager | ICM Global Funds Pte. Ltd. (CMS101205) |
Duration | 5-year + 1 year +1 year closed-end collective investment scheme |
Eligible Investors | Accredited or Institutional Investors, as defined by the MAS |
Minimal Initial Investment | Class A - US$3,500,000 Class B – US$10,000,000 Class C – US$20,000,000 Each share class minimum is subject to the discretion of the Board of ICMGF VCC |
Management Fee | Class A – 2.5% of Committed Capital Class B – 2% of Committed Capital Class C – 1.8% of Committed Capital |
Hurdle Rate | 10.0% per annum |
Performance Fee | 20.0% of the outperformance of the Hurdle Rate, subject to high watermark |
Register Your Interest
© 2026 ICMGF VCC. All rights reserved.
The information on this webpage should not be considered an offer or solicitation to deal in GSBB Horizon Fund (Registration number T22VC0112B-SF004) (the “Sub-fund”). This information is intended solely for institutional investors and accredited investors as defined under the Securities and Futures Act (Cap. 289) of Singapore. GSBB Horizon Fund is a registered Sub-fund of the ICMGF VCC (the "VCC"), a variable capital company incorporated in the Republic of Singapore. The assets and liabilities of GSBB Horizon Fund are segregated from other Sub-funds of the VCC, in accordance with Section 29 of the VCC Act.