Global Infrastructure Partners
{{Short description|Infrastructure investment fund}}
{{Use dmy dates|date=November 2020}}
{{Infobox company
| name = Global Infrastructure Management, LLC
| logo = GlobalInfrastructurePartnersLogo.svg
| type = Subsidiary
| traded_as =
| foundation = {{Start date and age|2006|05}}
| location = New York City, U.S.
| founders = {{ubl|Jonathan Bram|Matt Harris|Michael McGhee|Adebayo Ogunlesi|Raj Rao|Bill Woodburn}}
| key_people = {{ubl|Adebayo Ogunlesi (chairman and CEO){{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=30373318|archive-url=https://web.archive.org/web/20091129083647/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=30373318|url-status=dead|archive-date=29 November 2009|title=Company Overview of Global Infrastructure Partners|access-date=15 October 2012|publisher=Bloomberg Businessweek}}|Raj Rao
(president and COO)|Jim Yong Kim
(vice chairman)}}
| operating_income =
| net_income =
| aum = approx. US$170 billion (2025){{cite web|url=https://www.global-infra.com/|title=Global Infrastructure Partners|access-date=23 September 2020|publisher=Global Infrastructure Partners}}
| homepage = {{url|www.global-infra.com}}
| num_employees =
| industry = Private equity
| parent = BlackRock
}}
Global Infrastructure Partners, LLC (GIP) is an American infrastructure investment fund making equity and selected debt investments across markets worldwide. GIP's main headquarters are located in New York City and its equity investments are based on infrastructure assets in the energy, transport and water & waste sectors. GIP employs approximately 150 investment and operational professionals and has offices in New York, London, Stamford, Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong.{{cite web |title=GLOBAL INFRASTRUCTURE PARTNERS ANNOUNCES THE ELECTION OF SIX NEW PARTNERS |url=https://www.prnewswire.com/news-releases/global-infrastructure-partners-announces-the-election-of-six-new-partners-301736916.html |website=www.prnewswire.com |date=2 February 2023|access-date=29 November 2023 |language=en}}{{cite web |title=Global Infrastructure Partners {{!}} About us |url=https://www.global-infra.com/about/ |url-status=live |access-date=7 March 2025 |website=Global Infrastructure Partners}} In total as of 2023, its portfolio companies employ approximately 100,000 people, according to the company website. BlackRock acquired the company in 2024.
History
Global Infrastructure Partners was established in May 2006. Two founding investors in its first fund, GIP I, were Credit Suisse and General Electric. Both committed approximately 9% of the US$5.64 billion of GIP I's committed capital.
The firm's first investment was announced in October 2006. It was a 50:50 joint venture between GIP and American International Group (AIG) to acquire London City Airport for an undisclosed sum. GIP announced the sale of the asset in February 2016 for a significant multiple of its acquisition price.
GIP has made two additional notable airport investments: the October 2009 acquisition of Gatwick Airport, the second largest airport in the United Kingdom by passenger traffic, for £1.5 billion from BAA{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/transport/6394265/Gatwick-airport-sold-for-1.5bn.html|title=Gatwick airport sold for £1.5bn|access-date=15 October 2012|work=The Telegraph|date=21 October 2009}}{{cite news|url=http://news.bbc.co.uk/1/hi/business/8317662.stm|title=BAA agrees Gatwick airport sale |access-date=15 October 2012|work=BBC News|date=21 October 2009}} and the 2012 acquisition of Edinburgh Airport for £807 million.{{cite news|url=https://www.bbc.co.uk/news/uk-scotland-scotland-business-17814024|title=Edinburgh Airport sold to Global Infrastructure Partners for £807m|access-date=15 October 2012|work=BBC News|date=23 April 2012}}{{cite news|url=https://www.bbc.co.uk/news/uk-scotland-edinburgh-east-fife-18287180|title=Edinburgh Airport changes hands to Global Infrastructure Partners|access-date=15 October 2012|work=BBC News|date=1 June 2012}}
GIP has made a cross section of investments in other areas of the transport sector as well as the natural resource and power generation areas of the energy sector. These assets include seaports, freight rail facilities, midstream natural resources and power generation businesses.
Global Infrastructure Partners' first fund, GIP I, completed its fund raising in May 2008 with $5.64 billion in investor capital commitments. The fund became fully invested during 2012.
In September 2012, GIP's second fund, GIP II, completed fund raising with US$8.25 billion in investor capital commitments, making it the largest independent infrastructure fund in the world at that time.{{cite news|url=https://www.reuters.com/article/us-gip-infrastructure-idUSBRE89213S20121003|title=Global Infrastructure Partners raises record $8.25 billion|access-date=15 October 2012|publisher=Reuters|date=3 October 2012}} Exceeding what it had initially projected,Krouse, Sarah, and Ryan Dezember, [https://www.wsj.com/articles/blackrock-goes-3-7-billion-deeper-into-pipelines-and-power-1485943380 "BlackRock Goes $3.7 Billion Deeper Into Pipelines and Power"], The Wall Street Journal, 1 February 2017. Retrieved 2017-02-01. GIP's third fund—GIP III—completed fund raising in January 2017 with approximately $15.8 billion in investor capital commitments. GIP's fourth equity Fund, GIP IV, completed fund raising in December 2019, raising $22 billion.
GIP also manages several other Funds which focus on investments in infrastructure in other asset classes or target specific regions. GIP's Credit business manages over $4 billion across three Funds: GIP Capital Solutions I and GIP Capital Solutions II and GIP Spectrum.
In January 2024, the investment management corporation BlackRock announced its acquisition of Global Infrastructure Partners for $12.5 billion with Perella Weinberg as financial advisor. This move aims to tap into the infrastructure market, forecasted to be one of the fastest-growing segments of private markets in the years ahead.{{Cite web |date=2024-01-12 |title=BlackRock Agrees to Acquire GIP, Creating a World Leading Infrastructure Private Markets Investment Platform |url=https://www.global-infra.com/news/2024/01/blackrock-agrees-to-acquire-global-infrastructure-partners-gip-creating-a-world-leading-infrastructure-private-markets-investment-platform/ |url-status=live |archive-url=https://archive.today/20240112135224/https://www.global-infra.com/news/2024/01/blackrock-agrees-to-acquire-global-infrastructure-partners-gip-creating-a-world-leading-infrastructure-private-markets-investment-platform/ |archive-date=2024-01-12 |access-date=2024-01-12 |website=Global Infrastructure Partners |language=en-US}}{{Cite news |date=12 January 2024 |title=BlackRock strikes $12.5 bln deal for Global Infrastructure Partners |url=https://www.reuters.com/business/finance/blackrock-quarterly-profit-rises-strong-assets-under-management-2024-01-12/ |url-status=live |archive-url=https://archive.today/20240112134829/https://www.reuters.com/business/finance/blackrock-quarterly-profit-rises-strong-assets-under-management-2024-01-12/ |archive-date=12 January 2024 |work=Reuters}}{{Cite web |date=12 January 2024 |title=BlackRock CEO Larry Fink on GIP deal: The future in private markets will be infrastructure |url=https://www.youtube.com/watch?v=cTT_FlYYNtU |access-date=12 January 2024 |website=Youtube – CNBC Television}} On October 1, 2024, it was announced that BlackRock had completed the purchase of GIP.{{Cite web|url=https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackrock-completes-acquisition-of-global-infrastructure-partners|title=BlackRock Completes Acquisition of Global Infrastructure Partners|work=BlackRock|access-date=2024-10-03|language=en}}
Current investments
As of January 2023 Global Infrastructure Partners had aggregate assets under management of approximately US$100 billion, such investments being concentrated in OECD countries, generating revenues of approximately US$80 billion. Its portfolio specifically included investment in the following assets:{{cite web |url= http://global-infra.com/investments/ |title= Investments |access-date= 16 October 2012 |publisher= Global Infrastructure Partners |archive-date= 19 December 2012 |archive-url= https://web.archive.org/web/20121219193634/http://global-infra.com/investments/ |url-status= dead }}
- ADNOC Gas Pipelines
- Access Midstream Partners
- ACS Renewables
- Ascend Telecom Infrastructure Private Limited
- Atlas Renewable Energy
- Biffa
- Bluepoint Wind
- Borkum Riffgrund 2
- ChannelView Cogeneration
- Clearway Energy
- Compañía Logistíca de Hidrocarburos
- Competitive Power Ventures
- CyrusOne
- East India Petroleum
- Edinburgh Airport
- Empresa Eléctrica Guacolda S.A.
- EnLink Midstream (sold to ONEOK in 2024)
- Eolian Energy
- Freeport LNG
- Naturgy (fka Gas Natural SGD, S.A.)
- Gatwick Airport
- Gladstone LNG Project
- Gode Wind 1
- Great Yarmouth
- Hess Infrastructure Partners
- Heathrow Airport
- Hornsea 1
- London City Airport
- Medallion Gathering & Processing (sold to ONEOK in 2024)
- Pacific National
- Peel Ports
- Perdaman Karratha Ammonia-Urea Project
- Pluto Train 2
- Port of Melbourne
- Port of Brisbane Corporation
- QCLNG Common Facilities
- Rio Grande LNG
- Ruby Pipeline
- Saavi Energía
- Signature Aviation
- Skyborn Renewables
- SUEZ Group
- Sydney Airport
- Terra-Gen Power
- TransitGas AG
- Terminal Investment Limited
- Tramarsa
- Vantage Towers AG
- Vena Energy
References
{{reflist}}
External links
- [http://www.global-infra.com/ Global Infrastructure Partners]
{{BlackRock}}
{{Transport in London}}
Category:Former joint ventures
Category:Financial services companies established in 2006