Adebayo Ogunlesi, a prominent Nigerian financier and founder of Global Infrastructure Partners (GIP), recently made history by selling his infrastructure investment firm to BlackRock, the world’s largest asset manager, for $12.5 billion. This landmark transaction, finalized on January 12, involves $106 billion in assets under management, reflecting the scale and impact of GIP under Ogunlesi’s leadership.
Born in Ogun State, Nigeria, Ogunlesi’s journey to the pinnacle of global finance is nothing short of remarkable. After earning a bachelor’s degree in philosophy, politics, and economics from Oxford University, he pursued law and business degrees at Harvard. His early career was marked by significant achievements, including becoming the first non-American clerk for a U.S. Supreme Court judge and working at the renowned law firm Cravath, Swaine & Moore.
Ogunlesi transitioned to investment banking in 1983, joining Credit Suisse First Boston, where he rose to become the chief client officer and executive vice chairman. In 2006, he founded GIP, which specialized in acquiring and managing infrastructure assets. GIP quickly gained recognition for high-profile investments, including London City Airport and Gatwick Airport, and expanded its portfolio to include transportation, energy, and water management assets globally.
While Ogunlesi has primarily focused on international investments, Africa has seen limited involvement from his firm. However, the continent’s infrastructure deficit, estimated at $100 billion annually, presents a significant opportunity. BlackRock’s recent acquisition of a stake in Kenya’s Lake Turkana wind farm signals potential synergies that could bring Ogunlesi’s expertise closer to addressing Africa’s development challenges.
This deal also marks a pivotal moment for BlackRock, as it strengthens its infrastructure investment offerings amid changing global financial dynamics. For Ogunlesi, this $12.5 billion sale represents the pinnacle of an illustrious career built on vision, determination, and strategic foresight.