BlackRock agrees to buy Adebayo Ogunlesi’s Global Infrastructure Partners for about $12.5 billion
BlackRock Buys Infrastructure Firm GIP for $12.5 Billion in Major Alternatives Push.
Deal to make firm one of the biggest infrastructure investors
GIP is led by Adebayo Ogunlesi and manages $100 billion
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.