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GIP Investment Adviser LLC
Global Infrastructure Partners (GIP) is an infrastructure investment firm founded by Adebayo Ogunlesi in 2006, now part of BlackRock.
GIP Investment Adviser LLC
Global Infrastructure Partners was founded in 2006 by Adebayo Ogunlesi, along with co-founders including William Woodburn and Jonathan Bram. The firm emerged from Credit Suisse's infrastructure group, where Ogunlesi had been a senior banker. It started as one of the early independent firms focused solely on infrastructure investing, at a time when the asset class was still emerging from private equity. GIP invests across the full infrastructure spectrum: energy (including renewables and midstream), transport (airports, ports, rail), digital (data centers, fiber), and utilities. The firm targets large-scale, control-oriented deals globally. Known holdings include London City Airport, the Port of Melbourne, Freeport LNG, and a stake in Edinburgh Airport (per Bloomberg, 2023). GIP typically operates through a series of flagship funds that raised tens of billions from institutional investors like pension funds and sovereign wealth funds. The firm has offices in New York (HQ), London, Sydney, Mumbai, Hong Kong, and Tokyo. It employs over 200 professionals. In January 2024, BlackRock announced it would acquire GIP for $12.5 billion in cash and stock, combining it with BlackRock's infrastructure team to create a $150 billion infrastructure platform (per BlackRock press release, January 2024). The deal closed in late 2024, with Ogunlesi joining BlackRock's board. GIP's structural differentiator was its early focus on large, control-oriented infrastructure deals — buying entire airports or energy systems rather than minority stakes — at a time when most infrastructure investing was small and fund-of-funds. The firm built a reputation for operational improvements in portfolio companies, treating assets like operating businesses rather than passive cash flows.
General information
Firm type
Asset Manager
Year founded
2006
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
London · Sydney · Mumbai · Hong Kong · Tokyo
Principals
Adebayo Ogunlesi
Founder & Managing Partner
James L. Crossen
Partner & Chief Investment Officer
Scott Z. Singer
Partner & Head of Americas
Sector focus
Frequently asked questions
Who runs investment decisions at Global Infrastructure Partners?
Adebayo Ogunlesi founded the firm and remained managing partner through the BlackRock acquisition. James L. Crossen serves as partner and CIO. The firm operates with a partnership structure, with sector heads for energy, transport, and digital infrastructure. Post-acquisition, the GIP team continues to operate semi-autonomously within BlackRock's alternatives division (per BlackRock investor call, January 2024).
How does GIP source proprietary deal flow?
GIP relies on a global network of relationships built over two decades — including sovereign wealth funds, pension funds, and corporate sellers. The firm often acquires assets directly from governments via privatization processes, such as London City Airport and the Port of Melbourne. It also invests in developer-led greenfield projects, particularly in renewable energy (per Bloomberg, 2023).
Is GIP structured as a single family office or a traditional asset manager?
GIP is a traditional institutional asset manager, not a family office. It is structured as a limited partnership with external limited partners — primarily pension funds, sovereign wealth funds, endowments, and insurance companies. The firm manages capital through a series of closed-end funds, with GIP's partners also investing personal capital alongside LPs (per SEC filings, 2023).
What investment stages does GIP typically target?
GIP focuses on large-scale, mature infrastructure assets in the brownfield stage — operating airports, ports, pipelines, and utilities that generate stable cash flows. It also undertakes select greenfield development in renewable energy and digital infrastructure. The firm typically takes control or significant minority positions, with deal sizes often exceeding $1 billion (per Bloomberg, 2023).
Which sectors does GIP explicitly avoid?
GIP does not invest in late-stage venture capital, early-stage startups, or real estate (traditional commercial/residential). It also avoids distressed debt and high-yield credit. The firm's mandate is strictly infrastructure — real assets that provide essential services with long-term contracted or regulated cash flows (per the firm's investor materials, 2023).
How is GIP related to BlackRock after the acquisition?
GIP is now a wholly-owned subsidiary of BlackRock, operating as BlackRock's global infrastructure platform. The GIP management team, led by Adebayo Ogunlesi, runs the combined infrastructure business. Ogunlesi also sits on BlackRock's board. The acquisition closed in late 2024, creating a combined $150 billion infrastructure franchise (per BlackRock press release, January 2024).
Where does GIP's capital come from?
GIP raises capital from institutional investors — sovereign wealth funds (e.g., GIC, ADIA, KIA), pension funds (e.g., CalPERS, CalSTRS, CPPIB), insurance companies, endowments, and foundations. The firm's funds have historically been oversubscribed, reflecting strong LP demand. GIP partners also contribute personal capital alongside LPs (per SEC Form ADV, 2023).
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