GIC is to lend up to £90m (€122m) to private equity firm Maya Capital and GWM Capital Advisors funds.

Singapore’s sovereign wealth fund is backing the companies’ UK regional strategy of investing in office real estate outside London.

The debt will be used to refinance existing acquisitions and continue Maya’s regional strategy, launched in February.

The venture has completed six deals – two in Cardiff, two in Newcastle, one in Swansea and Worthing.

Maya and GWM have now committed £50m to the strategy since its launch.

David Pralong, managing partner at Maya Capital, said: “The fact we have received financing from such a high profile and internationally respected financial institution such as GIC will allow us to continue to pursue our strategy.   

“With the loan commitment from GIC, alongside the remaining capital from our original investor GWM Group, we have substantial fire power to add to our fast-growing portfolio of regional office assets.”