BlackRock, a leading global investment firm, has successfully acquired Global Infrastructure Partners in a deal valued at $12.5 billion. The acquisition was approved by the U.S. Federal Energy Regulatory Commission on Friday.
Under the terms of the agreement, BlackRock will pay $3 billion in cash and issue approximately 12 million shares of its common stock to Global Infrastructure Partners. This acquisition will strengthen BlackRock's position in the infrastructure investment market.
Global Infrastructure Partners is a renowned infrastructure investor with a focus on energy, transportation, digital infrastructure, and water and waste management sectors. The company specializes in investing, owning, and operating assets in these areas.
The approval of this acquisition comes amidst ongoing discussions about the concentration of ownership in the energy sector.
Last year, a member of the U.S. energy regulator called for increased scrutiny of top asset managers' holdings in power utilities. Commissioner Mark Christie emphasized the need for strict oversight when large asset managers like BlackRock acquire significant stakes in utility companies.
