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March 3, 2024
PI Global Investments

BlackRock acquires Global Infrastructure Partners for $12.5 billion

NEW YORK – BlackRock Inc (NYSE:)., the world’s largest asset manager, has completed a significant acquisition of Global Infrastructure Partners (GIP) for $12.5 billion, a combination of cash and stock. The transaction includes $3 billion in cash and additional shares. This major move positions BlackRock as the second-largest infrastructure asset manager globally and marks a substantial expansion of its alternatives business.

The acquisition brings under BlackRock’s umbrella key assets, including energy holdings and the prominent Gatwick Airport. The deal is anticipated to conclude by the third quarter of 2024, subject to the green light from regulatory bodies.

Upon the successful integration of GIP’s portfolio, Adebayo Ogunlesi is set to join BlackRock’s executive committee. Ogunlesi’s role will be crucial in overseeing the seamless incorporation of GIP’s assets into BlackRock’s extensive portfolio.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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