Wall St
BlackRock to buy Global Infrastructure Partners for $12.5bn
January 12, 2024 at 06:05
Deal would create world’s second-biggest infrastructure firm and shake up private market investing
BlackRock Inc. agreed to buy Adebayo Ogunlesi’s Global Infrastructure Partners for about $12.5 billion, vaulting the world’s biggest money manager into the top ranks of investors that make long-term bets on energy, transportation and digital infrastructure.
BlackRock will pay $3 billion of cash and about 12 million shares, worth about $9.5 billion at Thursday’s close, and the deal is expected to close in the third quarter. Ogunlesi, a former Credit Suisse executive who’s GIP’s chairman and chief executive officer, will join BlackRock’s board and global executive committee.
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