BlackRock Acquires Global Infrastructure Partners

(RTTNews) - BlackRock, Inc. (BLK), Tuesday announced the completion of the acquisition of private equity company Global Infrastructure Partners, which will continue to be led by Bayo Ogunlesi and the Office of the Chairman.

Earlier this year, the asset management giant had announced the decision to acquire Global Infrastructure for a total cash consideration of $3 billion and around $12 million worth of BlackRock common stock.

With this deal, BlackRock brings together over $100 billion of private markets Assets Under Management or AUM, and approximately $750 million of run rate management fees under its control, increasing private markets AUM by approximately 40 percent and expanding run rate revenues.

Currently, BlackRock's stock is trading at $938.17, down 1.19 percent on the New York Stock Exchange.