Global Infrastructure Partners

Global Infrastructure Partners
Partnership
Industry Private equity
Founded May 2006
Headquarters New York City, United States
(Head office)
Stamford, Connecticut, United States
(Operational headquarters)
Key people
 Adebayo Ogunlesi (Managing Partner and Chairman) [1]
AUM approx. US$48 billion (2018)[2]
Website www.global-infra.com

Global Infrastructure Partners (GIP) is an infrastructure investment fund making both equity and selected debt investments. GIP is headquartered in New York City and its equity investments are in infrastructure assets in the energy, transport and water/waste sectors. GIP employs approximately 150 investment and operational professionals and has offices in New York, London and Sydney and operational headquarters in Stamford, Connecticut. In the aggregate, its portfolio companies employ approximately 21,000 people.

History

Global Infrastructure Partners was established in May 2006. Two of GIP's founding investors in its first fund, GIP I, were Credit Suisse and General Electric. Each of these investors committed approximately 9% of the US$5.64 billion of GIP I's total committed capital.

The firm's first investment was announced in October 2006. It was a 50:50 joint venture between GIP and American International Group (AIG) to acquire London City Airport (LCY) for an undisclosed sum. GIP announced the sale of LCY in February 2016 for a significant multiple of its 2006 acquisition price.

Subsequently, GIP has made two additional airport investments: the October 2009 acquisition of Gatwick Airport, the second largest airport in the United Kingdom by passenger traffic, for £1.5 billion from BAA [3][4] and the 2012 acquisition of Edinburgh Airport for £807 million.[5][6]

Additionally, GIP has made a cross section of investments in other areas of the transport sector as well as the natural resource and power generation areas of the energy sector. These assets include sea ports, freight rail facilities, midstream natural resources and power generation businesses.

Global Infrastructure Partners' first fund, GIP I, completed its fund raising in May 2008 with $5.64 billion in investor capital commitments. The fund became fully invested during 2012. In September 2012, GIP's second fund, GIP II, completed fund raising with US$8.25 billion in investor capital commitments, making it the largest independent infrastructure fund in the world at that time.[7] Exceeding what it had initially projected,[8] GIP's third fund—GIP III—completed fund raising in January 2017 with approximately $15.8 billion in investor capital commitments.

Current Investments

As of September 2018, Global Infrastructure Partners had aggregate assets under management of approximately US$48 billion with its investments largely concentrated in OECD countries. At this time, the Fund's portfolio included investments in the following assets:[9]

  • Borkum Riffgrund 2
  • Clearway Energy
  • Competitive Power Ventures
  • Edinburgh Airport
  • EnLink Midstream
  • Equis Energy
  • Freeport LNG
  • Gas Natural SGD, S.A.
  • Gatwick Airport
  • Gode Wind 1
  • Guacolda Energia
  • Hess Infrastructure Partners
  • Italo
  • Medallion Gathering & Processing
  • Naturgy Energy Group
  • Pacific National
  • Port of Melbourne
  • Saeta Yield/Bow Power
  • Terminal Investment Limited
  • Vena Energy

References

  1. ↑ "Company Overview of Global Infrastructure Partners". Bloomberg Businessweek. Retrieved 15 October 2012.
  2. ↑ "What We Do". Global Infrastructure Partners. Retrieved 16 October 2012.
  3. ↑ "Gatwick airport sold for £1.5bn". The Telegraph. 21 October 2009. Retrieved 15 October 2012.
  4. ↑ "BAA agrees Gatwick airport sale". BBC News. 21 October 2009. Retrieved 15 October 2012.
  5. ↑ "Edinburgh Airport sold to Global Infrastructure Partners for £807m". BBC News. 23 April 2012. Retrieved 15 October 2012.
  6. ↑ "Edinburgh Airport changes hands to Global Infrastructure Partners". BBC News. 1 June 2012. Retrieved 15 October 2012.
  7. ↑ "Global Infrastructure Partners raises record $8.25 billion". Reuters. 3 October 2012. Retrieved 15 October 2012.
  8. ↑ Krouse, Sarah, and Ryan Dezember, "BlackRock Goes $3.7 Billion Deeper Into Pipelines and Power", Wall Street Journal, February 1, 2017. Retrieved 2017-02-01.
  9. ↑ "Investments". Global Infrastructure Partners. Retrieved 16 October 2012.
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