Business

BlackRock Set To Acquire Adebayo Ogunlesi’s Global Infrastructure Partners In $12.5bn Deal

The largest money manager in the world, BlackRock Inc., has agreed to pay around $12.5 billion to acquire Adebayo Ogunlesi’s Global Infrastructure Partners (GIP), propelling BlackRock into the elite group of investors that place long-term bets on energy, transportation, and digital infrastructure around the globe.

BlackRock is scheduled to finalise the transaction in the third quarter, paying $3 billion in cash and around 12 million shares, which are valued at $9.5 billion as of Thursday’s closing. Ogunlesi, the chairman and CEO of GIP and a previous executive at Credit Suisse will join BlackRock’s board and global executive committee.

After the purchase concludes, the company will own around $150 billion worth of infrastructure assets spread over a portfolio that includes airports in England and Australia, wastewater services in France and the U.S. market for exporting liquefied natural gas.

Due to the enormous need for digital infrastructure and logistics as well as the billions of dollars required to move away from high-carbon energy, institutional investors are becoming more and more interested in this asset class.

The Chief Executive of BlackRock, Larry Fink, said, “Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy.”

BlackRock, which oversees $10 trillion in assets across all markets, has been searching for what it believes to be a game-changing acquisition since its revenues stopped growing and political attacks had targeted its corporate governance, social and environmental business in the US.

GIP, which was established in 2006, is responsible for overseeing over $100 billion in assets, encompassing large offshore wind projects, the Port of Melbourne, and the Gatwick airport in Britain.

BlackRock also revealed changes to its top management team at a time when rumours about Fink’s successor, who launched the company in 1988, have been circulating.

According to a company memo, Salim Ramji, global head of iShares and index investments, is leaving, and Stephen Cohen is to take over as chief product officer and will head a new global product strategy division.

According to the document, BlackRock is also forming a new global business organisation led by Rachel Lord that will include Europe, the Middle East, India, and Asia Pacific.

Following the deal’s closing, GIP Chairman Bayo Ogunlesi, along with five other founding partners of GIP, will become directors of BlackRock, the statement continued.

The Goldman CEO, David Solomon, said on Friday that following his departure to BlackRock, Ogunlesi will resign from the Goldman Sachs board.

According to CFRA analyst Cathy Seifert, the agreement brings “new contenders” to the field of applicants hoping to replace Fink, who, at 71, has not yet announced his choice for a successor.

Ozioma Samuel-Ugwuezi

Follow us on:

Ozioma Samuel-Ugwuezi

View Comments

  • by the federal government of Nigeria opportunities to get a car of your choice at a minimum amount NIGERIA 🇳🇬 CUST0M SERVICE REPLACEMENT FORM IS FINALLY OUT FOR 2024 /2025 BATCH B AND YOU CAN GET IT DIRECTLY FROM THE ZONAL HEADQUARTERS IN NIGERIA INTERESTED APPLICANT THAT HAS WAECE, NECO, NCE, ND, HND, BSC CAN APPLY PLEASE KINDLY CONTACT ME ON: FOR MORE INQUIRIES

    BAGS OF RICE 35,500
    VEGETABLE OIL 25.
    LITTER 15,000

    TOKUMBO VEHICLE FOR
    SALE AT AUCTION PRICE
    INTERESTED BUYER
    SHOULD CONTACT
    OFFICER MRSEZE.
    [O9I 5608 9111 ]

    CARS FEATURES AND
    PRICE BELOW
    Tipper head 6m
    Dyan truck 900k

    GOLF 2,3,4,5 #500,000
    TOYOTA CAMRY BIG
    DADDY #550,000
    TOYOTA CAMRY
    TINYLIGH= #500,000
    TOYOTA CAMRY
    MUSCLE= #850,000
    TOYOTA CAMRY
    PENCILLIGHT=#400,000
    TOYOTA COROLLA
    le=#550,000
    TOYOTA COROLLA
    S=#750,000
    TOYOTA
    VENZA=#950,00 1.8m
    Tacoma 1,000,000
    TOYOTA Hilux 1.5 million
    TOYOTA AVALON
    #800,000
    TOYOTA AVENSIS
    #700,000
    TOYOTA RAV4 800k
    TOYOTA SIENNA
    #650,000
    TOYOTA
    4runner#950,000
    Bus 900k
    TOYOTA TUNDRA 1.9m
    TOYOTA PICNIC
    #550,000
    TOYOTA Highlander
    #950,000
    TOYOTA PADRO JEEP
    1.6m
    TOYOTA LAND
    CRUISER=1.5m
    TOYOTA YARIS #459,000
    TOYOTA MATRIX
    #650,000
    TOYOTA HAICE BUS
    #750,000
    ACCURA ZDX 1.6m
    ACCURA MDX 1.9m
    HONDA PILOT #950,00
    HONDA BABY BOY
    #550,000
    HONDA END OF
    DISCUSSION
    HONDA ACCORD
    #450,000
    Honda CR-V #850,000
    INFINITY fx450 #750,000
    to 1.4m
    NISSAN MURANO
    #650,00
    Es250 900k
    LEXUS RX 350 #1.2m
    LEXUS RS 330 # 1m
    Gx460 2.7m
    LEXUS RS 300 # 900,000
    LEXUS RX 470 1.5m
    Es3501mill
    Range rover 3mill
    All NEGOTIABLE WE
    RENDER GOOD SERVICE
    TO CUSTOMER ....{ E.T .C}

    LOCATION AT OGUN
    STATE IDIROKO BORDER WE
    HAVE TWO OPTION
    ELDER WE DELIVERY OR
    YOU COME OVER IF WE
    HAVE TO COME OVER WE
    NEED THIS FROM YOU

    {1} NATIONAL ID CARD
    {2} BORDER PERMIT
    {3} INSPECTION DOCUMENTS
    {4} 2PASSPORT

    THANKS FOR YOUR
    PATRONAGE WE

    DELIVER TO 36 STATE IN
    NIGERIA AND ALSO
    COME DOWN WITH THE
    FULL PAYMENT CALL
    FOR MORE
    INFORMATION
    {O9I 5608.9111 }

Recent Posts

IPOB Denounces Simon Ekpa As A ‘Destructive Agent’, Clarifies He Was Never A Member Of The Group

IPOB distanced itself from Simon Ekpa, calling him a “destructive agent” who infiltrated and destabilised…

51 mins ago

Biden Calls ICC’s Arrest Warrants For Netanyahu, Gallant ‘Outrageous’

Biden has condemned ICC's arrest warrants for Netanyahu and Gallant, calling them "outrageous" amid global…

58 mins ago

Chukwuma Ezeala: Simon Ekpa’s Arrest Won’t Guarantee Peace In Southeast, Government Must Identify His Disciples

Chukwuma Ezeala has said that despite Simon Ekpa’s arrest, identifying his disciples in Southeast Nigeria…

1 hour ago

Federal Government Reinstates Ikechebelu as Acting Vice-Chancellor of UNIZIK

The federal government has reinstated Professor Joseph Ikechebelu as acting Vice-Chancellor of UNIZIK, nullifying Professor…

3 hours ago

Court Of Appeal Nullifies Judgment Blocking Voter Register Release For Rivers LG Polls

Court of Appeal has overturned the Federal High Court ruling barring INEC from releasing voter…

3 hours ago

Kenya Cancels Adani Contracts as US Prosecutors Charge Tycoon with Fraud

Kenya has cancelled airport and energy deals with Adani following US bribery and fraud charges…

3 hours ago