BlackRock pays $12 billion for Global Infrastructure Partners.

The independent infrastructure fund manager Global Infrastructure Partners is being acquired by BlackRock in a stock-and-cash transaction valued at over $12 billion.

Nearly twelve million BlackRock shares and three billion dollars in cash were the components of the deal revealed on Friday. 

 Deferred issuance of around 30% of the entire consideration, in the form of stock, is anticipated to occur in around five years.

Since its inception in 2006, GIP has grown to oversee over $100 billion in client assets, mostly in the areas of energy, transportation, water and waste, and digital infrastructure.

According to a prepared statement by BlackRock Chairman and CEO Larry Fink, "Infrastructure is one of the most exciting long-term investment opportunities," given the many fundamental upheavals that are reshaping the global economy.

As governments strive for energy independence, self-sufficiency, and security, they are increasing domestic industrial capacity, and onshoring or near-shoring important industries. As a result, we anticipate that physical and digital infrastructure construction will accelerate even further.

The third quarter is when the deal is supposed to close. One bitcoin exchange traded fund, IBIT, was provided by BlackRock; eleven such funds were authorized this week by U.S. authorities.

New York-based BlackRock Inc.'s stock dropped little before Friday's market opened.

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