Why BlackRock is Moving Closer to Blackstone’s Business Model

BlackRock, the world’s largest asset manager, has announced its acquisition of Global Infrastructure Partners (GIP) in a deal worth approximately $12.5 billion. This transaction, which is expected to close in the third quarter, includes $3 billion in cash and 12 million shares of GIP’s common stock. Around 30% of the total consideration will be deferred and is expected to be issued in about five years.

The acquisition comes as BlackRock seeks to move closer to the business model of Blackstone, the world’s largest alternative investment manager. With the private equity and credit markets experiencing a multiyear boom, it makes sense for BlackRock to expand its reach in these areas.

BlackRock Chairman and CEO Larry Fink expressed his belief that the next decade will be about infrastructure, and that private capital will be needed to digitize power grids, fund renewable energy projects, and capture carbon from the air. GIP, one of the largest independent equity and debt fund managers focused on infrastructure, has over $100 billion in client assets targeted toward energy, transport, water and waste, and digital infrastructure. The infrastructure market is currently a $1 trillion market and is forecast to be one of the fastest-growing segments of private markets in the years ahead.

Fink stated that the combination of BlackRock infrastructure with GIP will make them the second-largest private markets infrastructure manager, with over $150 billion in total assets under management. This acquisition positions BlackRock better than ever to meet the needs of clients seeking high-coupon, inflation-protected, long-duration investments.

BlackRock has seen significant profit from its exchange-traded fund (ETF) business over the past two decades, as investor interest in passive investment strategies has grown. However, there has been speculation that passive investing has reached its peak, and BlackRock’s margins have been under pressure. The acquisition of GIP signals BlackRock’s intention to focus on private equity as a source of future profit growth.

GIP Chairman Adebayo Ogunlesi referred to the acquisition as a “marriage made in heaven.”

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP also comes at a time when there has been growing institutional interest in private markets, particularly private credit. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

In conclusion, BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles.

BlackRock’s acquisition of GIP is expected to close in the third quarter and will make them the second-largest private markets infrastructure manager, with over $150 billion in total assets under management. The deal positions BlackRock better than ever to meet the needs of clients seeking high-coupon, inflation-protected, long-duration investments.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit growth. The deal underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that positions the company to capitalize on the growing infrastructure market and meet the needs of clients seeking high-quality infrastructure investments. The deal also underscores the trend towards alternative investment strategies and the shift away from traditional passive investment vehicles like ETFs.

BlackRock’s acquisition of GIP is a strategic move that makes sense for the company as it seeks to expand its reach in the private equity and credit markets. The infrastructure market is expected to grow significantly in the coming years, and BlackRock’s acquisition of GIP positions them to meet the needs of clients seeking high-quality infrastructure investments.

BlackRock’s acquisition of GIP is a significant move in the world of asset management, as it signals the company’s intention to focus on private equity as a source of future profit