ATLANTA, GEORGIA - FEBRUARY 15: Adebayo Ogunlesi speaks onstage during Morehouse College 32nd Annual "A Candle In The Dark" Gala at the Hyatt Regency Atlanta on February 15, 2020 in Atlanta, Georgia. (Photo by Paras Griffin/Getty Images)

BlackRock is acquiring Adebayo Ogunlesi’s Global Infrastructure Partners for $12.5 billion

BlackRock, the world’s largest asset manager, has announced its acquisition of Global Infrastructure Partners (GIP) for about $12 billion in cash and stock. The acquisition is part of BlackRock’s increased focus on infrastructure, which CEO Larry Fink described as “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 platform aims to be the preeminent, one-stop infrastructure solutions provider for global corporates and the public sector, mobilizing long-term private capital through long-standing firm relationships

The acquisition is expected to close in the third quarter of this year. BlackRock will pay $3 billion in cash and 12 million of its own shares, worth about $9.5 billion based on the closing price of the shares on Thursday.

GIP, founded in 2006 by prominent Nigerian lawyer and investment banker Adebayo Ogunlesi, manages more than $100 billion in client assets across infrastructure equity and debt, with a focus on energy, transport, water and waste, and digital sectors.

Ogunlesi has had a remarkable career, having previously served as the head of global investment banking at Credit Suisse First Boston. He is also known for his academic achievements, having graduated from Oxford University, Harvard Law School, and Harvard Business School.

Ogunlesi’s work has earned him recognition and accolades, including being appointed as a member of former U.S. President Donald Trump’s Strategic and Policy Forum. His success and leadership in the global business arena make him an inspiring figure for young people, especially in Nigeria and across Africa. Adedayo Ogunlesi was referenced in Burnaboy’s 2020 hit single ‘Wonderful’ where he praised the businessman for his hardwork and success.

Nasir Ahmed Achile

Philosophy nut. I recommend Albert Camus and Eckhart Tolle to everyone I know.

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