BlackRock Inc. has reached a milestone of $14 trillion in assets under management, just two years after acquiring Nigerian billionaire Adebayo Ogunlesi’s Global Infrastructure Partners (GIP) for $12.5 billion.
The world’s largest asset manager reported a quarterly record of $342 billion in net inflows, driven by demand for global investment products and exchange-traded funds (ETFs).
The acquisition of GIP has expanded BlackRock’s reach in infrastructure investing, with Ogunlesi joining the company’s Global Executive Committee as a senior managing director.
GIP, founded by Ogunlesi, is a leading independent infrastructure manager with over $100 billion in assets, spanning transport networks, energy assets, and natural resources.
BlackRock’s growth is attributed to its strong ETF business, which drew $181 billion in net inflows during the fourth quarter, and $527 billion for the year.
The company’s retail business added $82 billion, while cash management products attracted $74 billion.
Ogunlesi, 72, has also renewed his focus on Nigeria, potentially bolstering confidence in the country’s reform agenda and supporting efforts to deepen trade, transport, and energy links across West Africa.
