BlackRock buys infrastructure investor Global Infrastructure Partners for $12 billion
BlackRock, the world’s biggest asset manager, announced Friday it is buying Global Infrastructure Partners for about $12 billion in cash and stock.
The acquisition 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.” As part of the deal, GIP’s management team will lead a combined infrastructure private markets investment platform at BlackRock.
The deal is expected to close in the third quarter of this year.
BlackRock also announcing it will embed its ETF and Index businesses across the entire firm with the creation of a new strategic Global Product Solutions business.
