NEW YORK – BlackRock Inc (NYSE:)., the world’s largest asset manager, has announced its plans to acquire Global Infrastructure Partners (GIP), a leading global, independent infrastructure investor. The deal, valued at $12.5 billion, is expected to close in the third quarter of 2024, subject to regulatory approvals. This strategic move will significantly expand BlackRock’s infrastructure assets under management to $150 billion, with a focus on sectors critical to the energy transition and the digital economy.
The acquisition is part of a broader trend in the asset management industry, where firms are actively seeking growth through mergers and acquisitions, particularly in the infrastructure sector. This sector has demonstrated strong performance and stability relative to other asset classes, as noted in the Global Fund Performance Report. The report highlights the trend from the previous year into Q1 of the current year, with asset management companies increasingly growing their infrastructure AUM.
BlackRock’s acquisition is set against the backdrop of several notable transactions in the infrastructure investment space over the past year. CVC Capital Partners acquired DIF Capital Partners, and Investcorp took control of Corsair Capital’s infrastructure business, which includes projects like the ones at JFK International Airport.
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