BlackRock, Inc. has entered into a definitive agreement to acquire Infraestructura Institucional, Mexico’s leading independently managed, infrastructure investment firm, expanding BlackRock’s infrastructure capabilities in Mexico and deepening the Company’s presence in the country.
The agreement builds upon BlackRock’s existing $6 billion global infrastructure platform and strengthens the Firm’s long-standing Mexico business. The acquisition will fully enable BlackRock to deliver to its local and international clients the compelling infrastructure opportunities emerging in Mexico. Upon closing, BlackRock’s infrastructure investment platform will manage more than $7 billion of invested and committed assets and over 80 employees located in 6 offices globally. The Firm’s Mexico office will grow to over 50 employees and $26 billion of assets under management.
Infraestructura Institucional is a leading investor across a broad range of infrastructure projects in Mexico and manages approximately $1 billion of invested and committed capital. The team has extensive experience investing across infrastructure project types in Mexico including transportation, energy and social infrastructure.
“As our clients’ demand for high quality infrastructure assets continues to grow, we believe that Mexico presents a rapidly evolving investment opportunity for institutional investors globally,” said Jim Barry, global head of BlackRock Infrastructure Investment Group. “Adding the Infraestructura Institucional team will enhance BlackRock’s ability to deliver previously untapped investment opportunities in Mexico to our local and international clients,”
“This acquisition advances BlackRock’s growth strategy in Mexico and Latin America and builds upon our well-established track record in the region,” said Armando Senra, head of the Latin America & Iberia Region at BlackRock. “Mexico is well-positioned for long-term economic growth and we are excited to further expand our presence in the country.”
The transaction is subject to regulatory approvals and is expected to close by the end of the fourth quarter of 2015. The financial impact of the transaction is not material to BlackRock earnings per share. Terms were not disclosed.
About BlackRock Latin America
BlackRock has $109 billion of AUM in Latin America, including $25 billion in Mexico, with 100+ employees dedicated to Latin America with offices in Mexico, Brazil, Chile and Colombia. The firm’s Mexico office consists of a 27 person team who deliver the firm’s institutional and wealth clients a comprehensive range of local and international investment solutions and risk management services.
As of March 31, 2015, BlackRock’s Infrastructure platform manages more than $6 billion in invested and committed assets in debt and equity strategies. The platform provides investors with infrastructure equity and debt investments via funds, co-investments, managed accounts and multi manager strategies. The team of investment professionals is based in New York, London, Dublin, Paris and Zurich.
SOURCE: BlackRock, Inc.Older postNewer post