Investment giant BlackRock has closed a $12.55 billion deal to acquire Global Infrastructure Partners (GIP), which owns shares in a number of wind power companies and wind farms.
The deal “creates an industry leader in infrastructure across equity, debt and solutions”, with approximately $170 billion of assets under management, BlackRock claimed.
The combined infrastructure platform will be branded Global Infrastructure Partners (GIP), and will be a part of BlackRock. CEO Bayo Ogunlesi will continue to lead GIP.
“Infrastructure represents a generational investment opportunity. Through the combination of BlackRock and GIP, we are well positioned to capitalise on the long-term structural trends that will continue to drive the growth of infrastructure and deliver superior investment opportunities for clients globally,” said BlackRock CEO Larry Fink.
GIP manages more than $100 billion worth of assets, focusing on the energy, transport, water and waste, and digital sectors.
This includes stakes in offshore wind developer Skyborn Renewables, US renewables firm Clearway Energy, and Asia-Pacific-focused renewables developer Vena Energy, according to its website.
It has stakes in 8.8GW of wind farms in various stages of development, according to Windpower Intelligence[1], the research and data division of Windpower Monthly.
References
^ Windpower Intelligence (www.windpowermonthly.com)
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