On Friday, BlackRock, the largest asset manager in the world, made an announcement regarding its purchase of Global Infrastructure Partners for approximately $12 billion in a combination of cash and stock. This acquisition reflects BlackRock’s emphasis on infrastructure investments, which CEO Larry Fink regards as a highly promising long-term opportunity. Under this agreement, the management team of GIP will spearhead a consolidated infrastructure private markets investment platform within BlackRock. The completion of the deal is projected to occur in the third quarter of this year.
Additionally, BlackRock disclosed its intention to integrate its ETF and Index businesses throughout the entire organization by establishing a strategic Global Product Solutions business. This initiative is expected to position BlackRock as the leading provider of comprehensive infrastructure solutions for global corporations and the public sector. The goal is to harness long-term private capital by leveraging the firm’s longstanding relationships.
Furthermore, BlackRock has decided to create a novel International Business structure, which will enable unified leadership across Europe, the Middle East, India, and the Asia Pacific region.
Source (CNBC)
