Adebayo Ogunlesi, a Nigerian banker and the founder of Global Infrastructure Partners (GIP), has entered Africa’s billionaire ranks with an estimated net worth of $2.3 billion following the sale of his company to BlackRock Inc. for approximately $12.5 billion.
Recent updates from Bloomberg indicate that Larry Fink, a US billionaire, spearheaded the surge in Ogunlesi’s net worth, culminating in the historic acquisition deal with BlackRock.
The agreement reportedly includes $3 billion in cash and around 12 million shares of GIP’s common stock, valued at $9.5 billion, propelling the 70-year-old Nigerian into the upper echelons of Africa’s wealthiest individuals.
With a 17.5% stake in GIP, Ogunlesi now ranks among Africa’s top 20 billionaires. He established BlackRock in May 2006 and, under his guidance, the company grew to become one of the world’s largest independent infrastructure managers, overseeing assets exceeding $100 billion.
The acquisition deal with BlackRock is expected to finalize in the third quarter of the current year, resulting in the establishment of a robust multi-asset-class infrastructure platform with a client base surpassing $150 billion.
This acquisition marks a significant milestone for Ogunlesi and GIP, which expanded its portfolio to include the transportation sector, natural resources, and power generation. GIP acquired London City Airport in 2006, propelling its trajectory to extraordinary heights.
BlackRock has expressed its commitment to appointing Ogunlesi to its board at the next meeting following the deal’s closure, underscoring the value of his leadership and expertise.
The combined platform will be led by the GIP management team, including Ogunlesi and the four founding partners, leveraging their investment and operational acumen.
