BlackRock to acquire Global Infrastructure Partners for $3 billion in cash and about 12 million shares

BlackRock Inc. BLK, +0.03% said Friday it has entered an agreement to acquire Global Infrastructure Partners, or GIP, an independent infrastructure fund manager, for $3 billion in cash and about 12 million shares. The infrastructure market is valued at $1 trillio today and expected to be one of the fastest growing ones in the years ahead, BlackRock said in a statement. “A number of long-term structural trends support an acceleration in infrastructure investment,” said the asset manager. “These include incr ...