Blackrock takes US$12.5bn alternatives bet with GIP purchase

BlackRock has splashed out US$12.5bn to beef up its alternatives and infrastructure portfolio through the acquisition of Global Infrastructure Partners (GIP). Already the world’s largest fund manager, GIP brings with the US$100bn portfolio containing airports, such as London’s Gatwick, toll roads and bridges, green energy projects and data centres. Adebayo Ogunlesi, GIP’s founder, will join the Blackrock board on completion of the shares and cash deal. “The unprecedented need for new infrastructure – for di ...