Fried Frank Harris Shriver & Jacobson LLP’s asset management team, under the leadership of partners Jonathan Adler and Kate Downey, further fortifies BlackRock’s legal arsenal, ensuring a seamless execution of the acquisition strategy.
Skadden and Fried Frank Guide BlackRock On $12.5B GIP Buy : GIP’s Stalwart Leadership
Founded in 2006, GIP, with over $100 billion in client assets, is a formidable force in infrastructure equity and debt management. The deal stipulates that BlackRock will acquire 100% of GIP’s business and assets for $3 billion in cash and 12 million shares of BlackRock common stock.
The Global Landscape of Infrastructure Investment
The merger between BlackRock and GIP positions the conglomerate as the largest independent infrastructure manager globally, managing over $150 billion in client assets across equity, debt, and solutions. With a focus on energy, transport, water and waste, and digital sectors, the combined entity is poised to reshape the infrastructure investment landscape.
Skadden and Fried Frank Guide BlackRock On $12.5B GIP Buy : Financing the Future
To fund the cash payment, BlackRock plans to leverage $3 billion in debt, with approximately 30% of the total consideration deferred and expected to be issued in about five years, providing a unique financial structure to the deal.
The Legal Maestros Behind GIP
Kirkland & Ellis LLP, representing GIP, marshals a powerhouse team led by asset management M&A partners Daniel Lavon-Krein and Christopher Gandia. Their collaborative effort includes corporate partners Melissa Kalka, Andy Calder, Doug Bacon, Stephen Noh, Kate Willson, and Rami Totari, with support from capital markets partner Julian Seiguer and tax partners Stephen Butler and Joseph Tootle.
