GIC Private SC 13G/A Dell / GIC Private ownership change

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 2) *

Dell Technologies Inc.

(Name of Issuer)

Class C Common Stock, par value $0.01 per share

(Title of Class of Securities)

24703L202

(CUSIP Number)

December 31, 2020

(Date of the Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed :

☐ Rule 13d-1(b)

☒ Rule 13d-1(c)

☐ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provision of the Act (however, see the Notes.)

SCHEDULE 13G

CUSIP No. 24703L202 Page 2 of 5 Pages

1	NAME OF REPORTING PERSONS   GIC Private Limited
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   Republic of Singapore

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   7,909,054
	6	SHARED VOTING POWER   1,094,471
	7	SOLE DISPOSITIVE POWER   7,909,054
	8	SHARED DISPOSITIVE POWER   1,094,471

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   9,003,525
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   3.41%(1)
12	TYPE OF REPORTING PERSON (See Instructions)   CO

⁽¹⁾  Based on 263,653,066 Class C Common Shares outstanding as of November 27, 2020, according to the Form 10-Q filed by the Issuer with the Securities and Exchange Commission on December 7, 2020.

SCHEDULE 13G

CUSIP No. 24703L202 Page 3 of 5 Pages

Item 1(a) Name of Issuer

Dell Technologies Inc.

Item 1(b) Address of Issuer’s Principal Executive Offices

One Dell Way

Round Rock, Texas 78682

Item 2(a) Name of Persons Filing

GIC Private Limited

Item 2(b) Address of Principal Business Office or, if none, Residence

168 Robinson Road

#37-01 Capital Tower

Singapore 068912

Item 2(c) Citizenship

GIC Private Limited – Republic of Singapore

Item 2(d) Title of Class of Securities

Class C Common Stock, par value $0.01 per share

Item 2(e) CUSIP Number

24703L202

Item 3 If this statement in filed pursuant to §§240.13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

Not applicable.

Item 4 Ownership

(a - c) The aggregate number of securities and percentage of the class of securities of the Issuer beneficially owned by the Reporting Person named in Item 2(a), as well as the number of securities as to which such person is deemed to have sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, shared power to dispose or direct the disposition, is set forth in the following tables:

Reporting Person

No. of Securities Beneficially Owned

Percent of Class (3)

Voting Power

Dispositive Power

Sole (1), (2)

Shared (1), (2)

Sole (1), (2)

Shared (1), (2)

GIC Private Limited

9,003,525

3.41

7,909,054

1,094,471

7,909,054

1,094,471

SCHEDULE 13G

CUSIP No. 24703L202 Page 4 of 5 Pages

(1) GIC is a fund manager and only has 2 clients – the Government of Singapore (“GoS”) and the Monetary Authority of Singapore (“MAS”). Under the investment management agreement with GoS, GIC has been given the sole discretion to exercise the voting rights attached to, and the disposition of, any shares managed on behalf of GoS. As such, GIC has the sole power to vote and power to dispose of the 7,909,054 securities beneficially owned by it. GIC shares power to vote and dispose of 1,094,471 securities beneficially owned by it with MAS.

(2) GIC disclaims membership in a group.

(3) Based on 263,653,066 Class C Common Shares outstanding as of November 27, 2020, according to the Form 10-Q filed by the Issuer with the Securities and Exchange Commission on December 7, 2020.

Item 5 Ownership of Five Percent or Less of a Class

3.41%

Item 6 Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company

Not applicable.

Item 8 Identification and Classification of Members of the Group

Not applicable.

Item 9 Notice of Dissolution of Group

Not applicable.

Item 10 Certifications

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11.

SCHEDULE 13G

CUSIP No. 24703L202 Page 5 of 5 Pages

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct as of February 12, 2021.

GIC PRIVATE LIMITED
By:	/s/ Celine Loh Sze Ling
Name: Celine Loh Sze Ling
Title: Senior Vice President
By:	/s/ Toh Tze Meng
Name: Toh Tze Meng
Title: Senior Vice President