Singapore sovereign wealth fund GIC Private has nearly doubled its stake in Merlin Entertainments to about 5.2 per cent.

According to Merlin representatives, GIC has raised its holding to about 52.6 million shares from about 27.6 million.

Private equity firms CVC and Blackstone launched the sale of their remaining 156.5 million shares in Merlin Entertainments last week.

Following the purchased, GIC’s stake in Merlin – the second largest visitor attractions operator behind Walt Disney – is worth in total around £220m (US$100m, €93.6m)

In the wake of the purchase, shares of Merlin closed up 2.8 percent at 426.5 pence on the London Stock Exchange. That value is currently sitting at 420 pence a share. According to market price, Merlin as a whole is valued at around £4.28bn (US$6.45bn, €6bn).

Last week, Merlin posted strong end of year results, recording a compounded annual growth rate from 2010 to 2014 of 12.6 per cent and welcoming 62 million visitors across its portfolio of 105 attractions. This was attributed to positive growth from existing attractions along with the continued rollout of its various brands, in particularly its Lego theme parks.