BlackRock Acquires Global Infrastructure Partners, Founded by Adebayo Ogunlesi, in $12.5 Billion Deal
BlackRock, the world’s largest asset management company, has announced its acquisition of Global Infrastructure Partners (GIP), a firm established by Nigerian investment banker Adebayo Ogunlesi, in a deal valued at $12.5 billion.
The transaction involves BlackRock paying $3 billion in cash and offering Ogunlesi and five other co-founders 12 million shares in BlackRock, establishing them as the second-largest shareholders in the global asset management giant.
In a statement released on Friday, BlackRock outlined its plan to appoint Adebayo Ogunlesi, the Founding Partner, Chairman, and CEO of GIP, to the board at the next scheduled meeting after the deal’s completion. The combination of GIP with BlackRock’s infrastructure offerings aims to create a comprehensive global infrastructure franchise with differentiated origination and asset management capabilities.
Laurence Fink, Chairman and CEO of BlackRock, envisions transforming the firm into a major player in the growing private and alternative assets market. The combined business, with over $150 billion, aims to deliver market-leading infrastructure expertise across equity, debt, and solutions at substantial scale.
Fink expressed excitement about the acquisition, calling it “one of the most exciting long-term investment opportunities.” GIP, with $106 billion invested in infrastructure, possesses assets such as Sydney, the Port of Melbourne, the Suez Water group, extensive green energy holdings, and a stake in a significant shale oil pipeline.
Adebayo Ogunlesi, an alumnus of King’s College Lagos and Harvard University, gained prominence in Nigeria after GIP’s acquisition of Gatwick Airport. With the deal, BlackRock solidifies its position as the second-largest private investor and manager of infrastructure globally, managing a staggering $10 trillion worth of alternative assets.
