global infrastructure partners (gip)

overview

Global Infrastructure Partners (GIP) is one of the world’s largest independent infrastructure investment firms, managing approximately $116 billion in assets under management as of its October 2024 acquisition by BlackRock. Founded in 2006 by Adebayo Ogunlesi and backed by Credit Suisse and General Electric, GIP built a premier infrastructure platform across transportation, energy, digital infrastructure, and water sectors with over 300 active investments in more than 100 countries. Following BlackRock's$12.5 billion acquisition completed in October 2024, GIP now operates as a subsidiary branded as ‘Global Infrastructure Partners (GIP), a part of BlackRock,’ combining GIP’s infrastructure expertise with BlackRock’s $13.5 trillion asset management platform to create a$170 billion combined infrastructure business. GIP leads the AI Infrastructure Partnership (AIP) consortium for BlackRock, executing large-scale data center and AI infrastructure acquisitions.

business model

Private equity-style infrastructure investing with focus on long-duration assets generating stable, inflation-protected cash flows. GIP’s model centers on acquiring controlling stakes in essential infrastructure businesses (ports, airports, utilities, data centers, pipelines) and actively managing operations to improve efficiency and returns. Unlike traditional PE, GIP holds assets longer (7-15 years vs. 5-7 years) due to infrastructure characteristics. Revenue generated from management fees (typically 1-2% of committed capital) and carried interest (20% of profits above hurdle rate, typically 8%). Post-BlackRock acquisition, GIP operates with dual mandate: (1) Manage existing GIP funds through to liquidation, (2) Lead BlackRock’s infrastructure strategy including AIP consortium for AI data center investments. GIP’s permanent capital structure (now within BlackRock) enables even longer hold periods without forced exits.

data center profile

global footprint

us portfolio (from database)

specialization

primary focus: ai-ml, hyperscale, wholesale

key differentiators:

• Decades of infrastructure investing track record (since 2006)

• Active operations management vs. passive PE ownership

• Global portfolio of 300+ infrastructure investments providing deal flow

• BlackRock platform access ($13.5T AUM, institutional relationships)

• Combined $170B infrastructure AUM (GIP + BlackRock pre-merger assets)

financial highlights

strategy

corporate strategy

Lead BlackRock’s global infrastructure investment strategy, leveraging GIP’s 18-year track record and operational expertise combined with BlackRock’s capital platform and institutional relationships. Post-acquisition strategy centers on three objectives: (1) Manage legacy GIP funds through to successful exits, delivering returns to limited partners, (2) Lead AIP consortium for AI data center and enabling infrastructure acquisitions, deploying $30B equity toward$100B total investment, (3) Build BlackRock’s infrastructure platform into the world’s preeminent infrastructure investor across digital, energy, and transportation sectors. GIP’s approach emphasizes active ownership with operational improvements, contrasting with passive financial engineering. The firm targets essential infrastructure with monopolistic or oligopolistic characteristics, regulatory moats, and inflation-protected revenue streams.

growth strategy

Deploy capital through AI Infrastructure Partnership (AIP) consortium, targeting $30B equity commitment leveraging to$100B total investment in AI data centers and supporting power infrastructure. Growth strategy employs platform acquisition approach (buying established operators like Aligned Data Centers for $40B) rather than greenfield development, instantly accessing operational expertise, customer relationships, and development pipelines. Post-Aligned, GIP expected to pursue additional AIP acquisitions in: (1) International data center platforms (Europe, Asia-Pacific, Middle East) leveraging GIP's global presence in 100+ countries, (2) Power infrastructure vertical integration (renewables, utilities, nuclear) to address energy constraints, (3) Supporting infrastructure (cooling, networking, construction) to build ecosystem. Beyond data centers, GIP continues pursuing transportation (airports, ports, rail), energy (pipelines, LNG, renewables), and water infrastructure globally. Target: Deploy$10-15B annually through 2030 across all infrastructure sectors.

power strategy

Recognize power as critical constraint on data center growth, requiring integrated energy infrastructure strategy. GIP’s approach leverages decades of energy sector investing (natural gas pipelines, LNG terminals, renewables, utilities) to address AI infrastructure power demands.

renewable commitment: GIP portfolio companies commit to renewable energy and sustainable operations where economically viable. However, priority is reliability and availability over 100% renewable, recognizing AI workloads require 24/7 uptime that intermittent renewables cannot provide alone. GIP has invested in major renewable energy platforms globally.

major commitments

partnerships

power providers

technology partners

NVIDIA Corporation (AI Hardware / Consortium Partner) : AIP consortium equity investor (joined March 2025). NVIDIA’s participation ensures GPU supply alignment with data center build-out.

Cisco Systems (Networking / Consortium Partner) : AIP consortium supplier partner. Networking equipment for hyperscale data centers.

financial partnerships

leadership

Adebayo Ogunlesi

Chairman & CEO, Global Infrastructure Partners; BlackRock Board Member

Nigerian-born investment banker and lawyer. Former head of Global Investment Banking at Credit Suisse. Founded GIP in 2006 with Credit Suisse and GE backing. Built GIP into $116B infrastructure platform before BlackRock acquisition. Known for landmark deals including London Gatwick Airport, Edinburgh Airport, and extensive energy infrastructure. Regarded as one of the world’s foremost infrastructure investors. Nigerian Prince (traditional chieftaincy title).

Architect of GIP’s infrastructure investment model and BlackRock integration. Ogunlesi’s relationships with sovereign wealth funds (particularly Middle East capital) were critical to forming AIP consortium. His government relationships (regulators, ministers, heads of state) enable complex infrastructure privatization deals. Under his leadership, GIP achieved top-quartile returns across multiple fund vintages. Now serves as BlackRock’s infrastructure strategy leader globally.

competitive position

GIP, now integrated within BlackRock, is positioned as one of the world’s largest and most experienced infrastructure investors. Combined $170B infrastructure AUM (GIP's$116B + BlackRock’s pre-merger infrastructure assets) ranks among top 3 globally alongside Brookfield Asset Management (~$500B infrastructure AUM) and Macquarie Asset Management (~$200B infrastructure AUM). GIP’s competitive position strengthened significantly post-BlackRock acquisition: (1) Access to BlackRock’s $13.5T AUM platform for capital raising, (2) Institutional relationships enabling larger deal sizes, (3) Permanent capital structure without fund liquidation pressure, (4) Enhanced credibility with sovereign wealth funds and pension plans. For AI data center infrastructure specifically, GIP leads the largest committed capital pool (AIP's$100B) vs. competitors’ project-by-project approaches.

strengths

• 18-year track record (since 2006) with consistent top-quartile returns

• 600-person global team with deep sector expertise

• 300+ active investments across 100+ countries providing global presence

• BlackRock platform access ($13.5T AUM, world’s largest asset manager)

• Active operations management vs. passive financial ownership

opportunities

• Massive AI infrastructure build-out (20 GW/year globally, $600B+ annual investment)

• Energy transition infrastructure (renewables, transmission, storage, nuclear)

• International expansion leveraging global presence and BlackRock relationships

• Vertical integration into power infrastructure for data centers

• Government infrastructure privatizations (airports, ports, utilities)

threats

• Competition from established infrastructure investors (Brookfield, Macquarie, KKR)

• Power supply constraints limiting data center deployment despite capital availability

• AI demand cyclicality if investment slows

• Hyperscaler build-vs-lease decisions (internal builds may be more economical)

• Regulatory barriers to foreign investment in critical infrastructure

sources

• Global Infrastructure Partners - Official Website

• Global Infrastructure Partners (2025-10-15)

• AIP, MGX, and BlackRock’s GIP to Acquire All Equity in Aligned Data Centers

• Global Infrastructure Partners (2025-10-15)

• BlackRock, GIP and MGX in $40bn data centre takeover to power AI growth

• Financial Times (2025-10-15)

• BlackRock Completes Acquisition of Global Infrastructure Partners

• BlackRock Inc. (2024-10-01)

• BlackRock Agrees to Acquire Global Infrastructure Partners

• BlackRock Inc. (2024-01-12)

• BlackRock Buys Infrastructure Firm GIP for $12.5 Billion in Alternatives Push

• Bloomberg (2024-01-12)

• BlackRock buys infrastructure investor GIP for $12 billion

• CNBC (2024-01-12)

• BlackRock Agrees to Acquire GIP, Creating World Leading Infrastructure Platform

• Global Infrastructure Partners (2024-01-12)

• Adebayo Ogunlesi - LinkedIn Profile

• LinkedIn (2025-10-15)

• Global Infrastructure Partners - Company Page

• LinkedIn (2025-10-15)