This Nigerian Founder Is Now A Billionaire Thanks To BlackRock’s $12.5bn Acquisition of Global Infrastructure Partners
BlackRock Inc. has agreed to purchase Global Infrastructure Partners (GIP), which Adebayo “Bayo” Ogunlesi co-founded, for around $12.5 billion.
BlackRock Inc. Purchases GIP
GIP is a leading global independent infrastructure fund manager.
They target infrastructure businesses and assets in the energy, transportation, digital, water, and waste sectors, where they believe their expertise and relationships provide a competitive advantage.
It was founded in 2006 and has grown to be one of the world’s largest infrastructure investors, managing $100 billion in assets on behalf of its global investor base.
Along the almost 20-year history of Global Infrastructure Partners, the firm secured ownership of London, England’s Gatwick and City airports, and Edinburgh, Scotland’s airport.
BlackRock is one of the world’s leading investment, advisory, and risk management solutions providers.
They invest in the future on behalf of their clients, inspiring employers and supporting local communities.
Meet Nigerian Founder Bayo Ogunlesi
Nigerian-born Ogunlesi holds an undergraduate degree with first-class honors from Oxford University, a law degree, and an MBA from Harvard.
“There only was a guy from Saudi Arabia, a guy from Iran, and me,” Ogunlesi said, speaking of his time at Harvard.
“I assume Harvard thought that all of us would go back to our countries, become rich, and endow chairs. I hope the Iranian and Saudi did because I never endowed a chair.”
He was also head of Credit Suisse’s investment banking division and lead independent director at Goldman Sachs Group Inc.
Due to the sale of Global Infrastructure Partners, Ogunlesi has reached billionaire status.
“Ogunlesi, who is chief executive officer, is calculated to have a 17.5% stake by the Bloomberg Billionaires Index and a total fortune of about $2.3 billion,” according to Bloomberg.
“An equal split of GIP’s $12.5 billion acquisition price would give the firm’s 27 other partners stakes worth more than $380 million each.”
