From CNBC:

BlackRock, the world’s biggest asset manager, is set to acquire Global Infrastructure Partners for about $12 billion in cash and stock. CEO Larry Fink views infrastructure as a promising long-term investment opportunity. The deal, expected to close in the third quarter, will see GIP’s management team lead BlackRock’s combined infrastructure private markets investment platform.

In addition to the acquisition, BlackRock is announcing the creation of a new Global Product Solutions business, integrating its ETF and Index businesses across the entire firm. This platform aims to become a leading infrastructure solutions provider for global corporates and the public sector, leveraging long-term private capital. The firm is also establishing a new International Business structure to unify leadership across Europe, Middle East, India, and Asia Pacific.



Read more: BlackRock buys infrastructure investor Global Infrastructure Partners for $12 billion