Aboitiz finalizing 40% infra arm stake sale to BlackRock’s GIP

LISTED conglomerate Aboitiz Equity Ventures, Inc. (AEV) said it is finalizing a strategic partnership with Global Infrastructure Partners (GIP), a US-based infrastructure fund manager owned by global asset management giant BlackRock, Inc., for the acquisition of a 40% stake in its infrastructure arm, Aboitiz InfraCapital, Inc.

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“We are honored to explore this opportunity with Global Infrastructure Partners,” AEV President and Chief Executive Officer (CEO) Sabin M. Aboitiz said in a statement to the stock exchange on Thursday. “Our shared vision of modern, world-class infrastructure aligns with the country’s ambitions for progress,” he added.

GIP, which manages over $183 billion in infrastructure assets across sectors such as energy, transport, digital infrastructure, and water, has stakes in major assets including London’s Gatwick Airport and Australia’s Port of Melbourne. Its parent firm, BlackRock, is the world’s largest asset manager and is listed on the New York Stock Exchange under the ticker symbol BLK.

AEV said its executives, along with President Ferdinand R. Marcos, Jr., met with GIP Chairman and CEO Bayo Ogunlesi during a recent high-level meeting in the United States.