The deal, expected to be finalized in Q3 2024, The transaction will involve a combination of cash and equity.
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BlackRock, the world’s largest asset management firm, has announced its intention to acquire Global Infrastructure Partners,.founded by Nigerian investment banker Adebayo Ogunlesi, in a deal valued at $12.5 billion.
Independent infrastructure investor GIP, a company founded in 2016 with a focus on energy, transport, water and waste, and digital sectors. They manages over $100 billion in client assets across infrastructure equity and debt
According to a statement released on Friday, BlackRock is set to pay $3 billion in cash and extend an offer of 12 million shares in BlackRock to Adebayo Ogunlesi and the other five co-founders of Global Infrastructure Partners. This move positions them as the second-largest shareholders in the world’s leading asset management giant.
The finalized deal, expected in Q3 2024, involves a payment of $3 billion in cash and approximately 12 million shares valued at around $9.5 billion based on January 11 closing prices.
In a statement released by BlackRock, GIP’s acquisition aligns with the vision of Laurence Fink, its chairman and Chief Executive Officer, to transform the firm into a key player in the growing market for private and alternative assets.
In statement released by Laurence Fink, CEO of Blackrock “The combination of GIP with BlackRock’s highly complementary infrastructure offerings creates a comprehensive global infrastructure franchise with differentiated origination and asset management capabilities,”
He added that the deal is “one of the most exciting long-term investment opportunities.”
Independent infrastructure investor GIP was founded in 2016. They manage over $100 billion in client assets across infrastructure equity and debt, with a focus on energy, transport, water and waste, and digital sectors.