BlackRock announced it is acquiring Global Infrastructure Partners for approximately $12 billion in cash and stock. The deal is expected to close in the third quarter of 2024 and make BlackRock a preeminent infrastructure solutions provider through GIP's management team and firm relationships. BlackRock CEO Larry Fink called infrastructure "one of the most exciting long-term investment opportunities" as part of the firm's increased focus on the sector. GIP CEO Bayo Ogunlesi said the combined platform will mobilize long-term private capital for global corporates and the public sector.