BlackRock, the world's largest asset management company, has announced its acquisition of Global Infrastructure Partners (GIP), founded by Nigerian investment banker Adebayo Ogunlesi, in a $12.5 billion deal.
The transaction includes a $3 billion cash payment and the issuance of 12 million BlackRock shares to Ogunlesi and five other GIP co-founders. This move positions them as the second-largest shareholders in BlackRock. Adebayo Ogunlesi, the GIP Founding Partner, will also join BlackRock's board as chairman and CEO.
The acquisition aims to strengthen BlackRock's position in the growing market for private and alternative assets, creating a global infrastructure franchise with comprehensive capabilities.
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