Following the acquisition of Global Infrastructure Partners (GIP) by BlackRock in a $12.5 billion deal, Adebayo Ogunlesi, the Founding Partner of GIP, is poised to witness a substantial increase in his net worth, reaching an estimated $2.3 billion, according to a Bloomberg report.
Ogunlesi, with a 17.5 percent stake in GIP, is expected to join the billionaire status once the takeover deal is finalized. BlackRock’s announcement of the acquisition included plans to appoint Ogunlesi to the board at the next scheduled board meeting after the deal’s completion.
BlackRock’s Chairman, Laurence Fink, expressed enthusiasm about the deal, describing it as “one of the most exciting long-term investment opportunities.” As part of the agreement, BlackRock will pay $3 billion in cash and offer Ogunlesi and five other co-founders of GIP 12 million shares in BlackRock, making them the second-largest shareholders in the global asset management giant.
Upon the deal’s closure, Adebayo Ogunlesi will join the exclusive group of dollar-denominated billionaires. In a Financial Times report, Ogunlesi credited his career switch and the success of the $12.5 billion deal to his wife, Amelia. The report highlighted a pivotal moment in 2005 when Ogunlesi, then a top banker at Credit Suisse, was reluctant to pursue a significant takeover opportunity. In response, his wife presented an ultimatum, urging him to either commit to his job or explore alternative opportunities.
Motivated by this ultimatum, Ogunlesi left banking at the age of 52 and transitioned to become an investor. Alongside colleagues, mostly from Credit Suisse, he opted for a contrarian bet by raising a fund to invest in the financing and operation of airports, energy plants, and other critical infrastructure. This strategic move ultimately led to the success and growth of Global Infrastructure Partners.
A distinguished individual with a first-class honors degree from Oxford University, a law degree and MBA from Harvard, and a clerkship on the Supreme Court under Thurgood Marshall, the 70-year-old Ogunlesi has held prominent positions, including head of Credit Suisse’s investment banking division and lead independent director at Goldman Sachs Group Inc.
