LANSING, Mich. (Michigan News Source) — While Michigan residents debate foreign land ownership, a wealthy foreigner has quietly snagged a forest-sized slice of the Upper Peninsula—the Government of Singapore Investment Corporation, better known as GIC.

This $800 billion sovereign wealth fund owns more than 540,000 acres of timberland in Michigan, including nearly a sixth of Gogebic County, according to Bridge Michigan—over 5% of all land in the UP. The sprawling holdings were uncovered only after the private equity firm managing the land peeled back layers of shell companies in an unusually transparent move.

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Experts warn GIC’s maze of offshore entities shows how major foreign investors can easily mask their true ownership, flying under the radar even as Michigan lawmakers rush to block land sales from certain “countries of concern.”

“The long chain of intermediaries illustrates how opaque corporate structures and limited reporting requirements make it hard to get a clear picture of foreign ownership,” David Ortega, Michigan State University professor, told Bridge Michigan.

While Michigan’s GOP-led legislature targets China, Russia, Iran, and other nations, Singapore slips through the cracks—quietly growing its footprint while investors move aggressively into timber, drawn to its steady returns and eco-friendly appeal.

State Sen. Ed McBroom (R–Waucedah Township) shrugged off fears of a Singaporean land grab but called for lawmakers to simplify ownership rules and demand clearer disclosures.

“It certainly seems a no-brainer to me that these things ought to be far more transparent and not have to go through multiple shell company layers in order to get down to who’s the owner,” McBroom said.