Global Infrastructure Partners

Global Infrastructure Partners (GIP) operates as an independent, specialist infrastructure fund manager, making equity and selected debt investments in high-quality assets within the energy, transport, digital infrastructure, and water/waste sectors. Founded in 2006, the firm was established through a joint venture between Credit Suisse and General Electric, with initial capital commitments of $500 million from each. The founding team, led by Adebayo Ogunlesi, brought together seasoned professionals from both parent companies, leveraging their extensive experience in infrastructure investing and management. Ogunlesi, who serves as the Chairman and CEO, previously led the Global Investment Banking division at Credit Suisse, providing him with a deep understanding of complex financial transactions and global markets. This background has been instrumental in shaping GIP's investment strategy, which focuses on acquiring and managing large-scale infrastructure assets that provide essential services and generate stable, long-term returns.

The firm's business model centers on an industrial-focused approach to asset management. GIP targets controlling equity stakes in businesses and portfolios, enabling it to actively influence operations and drive improvements in performance. Its client base consists of institutional investors, such as pension funds and sovereign wealth funds, who seek exposure to the infrastructure asset class. GIP generates revenue through management fees charged to its investment funds and performance-based fees, known as carried interest, which are earned when investments exceed certain return thresholds. The firm serves a global market, with investments spanning OECD and select non-OECD countries, including significant assets like Gatwick Airport, the Port of Melbourne, and CyrusOne, a major data center REIT.

A significant milestone in GIP's history is its pending acquisition by BlackRock, announced in January 2024 for a total consideration of $3 billion in cash and approximately 12 million shares of BlackRock common stock. This transaction, expected to close in the third quarter of 2024, will combine GIP's specialized infrastructure expertise with BlackRock's global asset management platform. The GIP management team, including the five founding partners, is expected to lead the combined, multi-asset class infrastructure platform, maintaining its distinct investment approach while benefiting from the broader resources and reach of BlackRock.

Keywords: infrastructure investment, asset management, private equity, energy infrastructure, transport assets, digital infrastructure, project finance, institutional investors, global infrastructure, fund management