BlackRock makes huge bet on infrastructure with $12.5B deal as ESG flounders

BlackRock said Friday it would buy Global Infrastructure Partners for $12.5 billion in a major bet on alternative assets and announced a shake-up of its top management.The deal, which includes $3 billion in cash and 12 million BlackRock shares, will put the asset management giant at the heart of investing in ports, power, and digital infrastructure projects around the globe. Once the deal closes, the firm will hold approximately $150 billion in infrastructure assets across a portfolio that ranges from the ...