BlackRock, maxi shopping in private equity: acquired Gip for 12.5 billion dollars

MILAN – BlackRock goes shopping in private equity. The asset management giant has announced the purchase of

Global Infrastructure Partners, an international fund manager active in the infrastructure, energy and water and waste management sectors. BlackRock will pay $3 billion in cash and about 12 million shares, worth about $9.5 billion. The deal is expected to close in the third quarter. Bayo Ogunlesiformer Credit Suisse executive and president and CEO of GIP, will join BlackRock as a member of BlackRock’s board of directors and executive committee.

The acquisition of GIP, which manages $100 billion, is the company’s largest acquisition since the purchase of Barclays Global Investors in 2009. “The unprecedented need for new infrastructure – for digital, enhanced logistics hubs, and decarbonization and energy security – combined with government deficits, means that private capital will be needed like never before,” they declared Larry Fink And Rob Kapito, CEO and president of BlackRock, in a note to employees. “This will be one of the fastest growing sectors of our industry over the next 10 years. growth of our industry over the next 10 years.”

In Italy, Gip, through its funds, invested in Italo, subsequently reducing its stake selling 50% to MSC, Pedemontana Motorway and Telecom Italia. The company also has a minority stake in London’s Gatwick Airport.