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Singapore Takes Large Stake in Kohl’s

Kohl’s Corp. has another major shareholder.

GIC Private Ltd., which represents the Republic of Singapore, has taken just over a 5 percent stake in Kohl’s, an accumulation of 5.5 million shares, according to a filing with the Securities and Exchange Commission.

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On Thursday, Kohl’s stock kicked up 3.2 percent, or 85 cents, to $26.91 at the close of the stock market.

According to its website, GIC is one of the three investment entities in Singapore that manage Singapore’s reserves, alongside the Monetary Authority of Singapore and Temasek. “We manage most of the government’s financial assets, investing for the long term with an aim to preserve and enhance the international purchasing power of the funds placed in our care,” the site reads.

Some major institutional holders of Kohl’s stock are Blackrock, Vanguard, T. Rowe Price, Dimensional Fund Advisors, State Street and Macellum Advisors.

On Tuesday this week, Reuters reported that Vision One Management Partners, an investment management firm based in Miami, has built a stake in Kohl’s and expressed concerns to the company about its future. The report, which cited anonymous sources, indicated that Vision One has asked Kohl’s to launch a sale process and also give it board representation. Vision One takes “a private equity approach to public market investing through active shareholder engagement primarily in midcap equities in North America, with a sector-focus on consumer and Industrial businesses,” its website indicates.

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