BlackRock, the world’s biggest asset manager, announced Friday it is buying Global Infrastructure Partners for about $12 billion in cash and stock.

Born in Sagamu, Ogun - State, Bayo Ogunlesi is the founder and CEO of Global Infrastructure Partners(GIP).

The acquisition is part of the firm’s increased focus on infrastructure, which CEO Larry Fink said is “one of the most exciting long-term investment opportunities.” As part of the deal, GIP’s management team will lead a combined infrastructure private markets investment platform at BlackRock.

The deal is expected to close in the third quarter of this year.

BlackRock also announcing it will embed its ETF and Index businesses across the entire firm with the creation of a new strategic Global Product Solutions business.

“This platform is set to be the preeminent, one-stop infrastructure solutions provider for global corporates and the public sector, mobilizing long-term private capital through long-standing firm relationships,” said GIP CEO Bayo Ogunlesi.

The firm is also creating a new International Business structure that will unify its leadership across Europe, the Middle East, India and Asia-Pacific.

Born in Sagamu, Ogun - State, Bayo Ogunlesi rose to the pinnacle of global finance at a really fast pace, making and crystalling deals, which have seen his private equity firm, Global Infrastructure Partners (GIP), to become one of the most important PEs in this century.

Now, he wants to take some cash: “BlackRock Inc., the world’s largest money manager, has announced its ambitious acquisition of Global Infrastructure Partners (GIP) for a staggering $12.5 billion, per Bloomberg.”

Nice

😂 12 billion dollars? That makes him the richest man on the continent.