BlackRock Bets on Infrastructure with $12.5B Buyout of GIP

BlackRock chairman and CEO Larry Fink is picking up some infra expertise The world’s largest money manager is about to become one of the globe’s biggest investors in ports, bridges and cell towers, with BlackRock announcing on Friday that it has agreed to buy General Infrastructure Partners (GIP) in a combined cash and stock deal valued at around $12.5 billion. Based in New York, GIP manages around $100 billion in assets, with BlackRock paying $3 billion in cash and around 12 million of its shares to acquire the company helmed by former Credit Suisse executive Adebayo Ogunlesi, according to a statement. “Infrastructure is one of the most exciting long-term investment opportunities, as a

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Last updated : 12 January 2024 clock 05:21 PM

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