Global Infrastructure Partners is acquired by BlackRock for $12 billion.

Global Infrastructure Partners is acquired by BlackRock for $12 billion.
Global Infrastructure Partners is acquired by BlackRock for $12 billion.

On Friday, the world's largest asset manager revealed that it will acquire Global Infrastructure Partners for approximately $12 billion through a combination of cash and stock.

BlackRock has acquired GIP's infrastructure private markets investment platform, with GIP's management team leading the combined platform as part of a deal that is part of the firm's increased focus on infrastructure, which CEO Larry Fink said is "one of the most exciting long-term investment opportunities."

The deal is expected to close in the third quarter of this year.

BlackRock is integrating its ETF and Index businesses into the entire firm through the establishment of a new strategic Global Product Solutions business.

GIP CEO Bayo Ogunlesi stated that this platform will be the leading provider of infrastructure solutions for global corporates and the public sector, securing long-term private capital through long-standing relationships.

by Jacqueline Corba

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