Global Infrastructure Partners

History

Global Infrastructure Partners was established in May 2006. Two founding investors in its first fund, GIP I, were Credit Suisse and General Electric. Each 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 and the 2012 acquisition of Edinburgh Airport for £807 million.

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. Exceeding what it had initially projected, 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. On October 1, 2024, it was announced that BlackRock had completed the purchase of GIP.

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:

• 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
• 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

Previous investments

• Medallion Gathering & Processing (sold to ONEOK in 2024)

References

References

1. "Company Overview of Global Infrastructure Partners". Bloomberg Businessweek.
2. "Global Infrastructure Partners". Global Infrastructure Partners.
3. (2 February 2023). "GLOBAL INFRASTRUCTURE PARTNERS ANNOUNCES THE ELECTION OF SIX NEW PARTNERS".
4. "Global Infrastructure Partners {{!}} About us".
5. (21 October 2009). "Gatwick airport sold for £1.5bn". The Telegraph.
6. (21 October 2009). "BAA agrees Gatwick airport sale". BBC News.
7. (23 April 2012). "Edinburgh Airport sold to Global Infrastructure Partners for £807m". BBC News.
8. (1 June 2012). "Edinburgh Airport changes hands to Global Infrastructure Partners". BBC News.
9. (3 October 2012). "Global Infrastructure Partners raises record $8.25 billion". Reuters.
10. 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.
11. (2024-01-12). "BlackRock Agrees to Acquire GIP, Creating a World Leading Infrastructure Private Markets Investment Platform".
12. (12 January 2024). "BlackRock strikes $12.5 bln deal for Global Infrastructure Partners". Reuters.
13. (12 January 2024). "BlackRock CEO Larry Fink on GIP deal: The future in private markets will be infrastructure".
14. "BlackRock Completes Acquisition of Global Infrastructure Partners". BlackRock.
15. "Investments". Global Infrastructure Partners.