BlackRock, the world’s largest asset management company, announced on Friday that it has acquired Global Infrastructure Partners for approximately 12 billion dollars in cash and stocks.
The acquisition is part of BlackRock’s increasing focus on infrastructure, which its CEO, Larry Fink, has described as “one of the most exciting long-term investment opportunities”.
As part of the deal, Global Infrastructure Partners will lead a joint investment platform in BlackRock’s private infrastructure markets.
The deal is expected to be completed in the third quarter of this year.
BlackRock has also announced that it will integrate the activities of its exchange-traded funds and its own indices by creating new strategic initiatives for global product solutions.
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