BlackRock, Inc. has reached an agreement to acquire Global Infrastructure Partners (GIP) for a total consideration of $3 billion in cash and approximately 12 million shares of BlackRock common stock. The acquisition creates a comprehensive global infrastructure franchise with differentiated origination and asset management capabilities, aiming to deliver market-leading expertise across equity, debt, and solutions at substantial scale. The combined business will be led by the GIP management team, and subject to completion of customary onboarding procedures, GIP's Founding Partner, Bayo Ogunlesi, will be appointed Chairman and Chief Executive Officer of the Board.