Global Infrastructure Partners
|Founder||Matthew C. Harris|
|Headquarters||New York City, United States|
|Adebayo Ogunlesi (Chairman) |
|AUM||approx. US$175 billion (2020)|
Global Infrastructure Partners (GIP) is an infrastructure investment fund making 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 total as at 2018, its portfolio companies employ approximately 21,000 people.
Global Infrastructure Partners was established in May 2006. Two founding investors in its first fund, GIP I, were Credit Suisse and General Electric. Both committed approximately 9% of the US$5.64 billion of GIP I's 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 for an undisclosed sum. GIP announced the sale of the asset in February 2016 for a significant multiple of its acquisition price.
GIP has made two additional notable 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 and the 2012 acquisition of Edinburgh Airport for £807 million.
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. Exceeding what it had initially projected, GIP's third fund—GIP III—completed fund raising in January 2017 with approximately $15.8 billion in investor capital commitments. GIP's fourth equity Fund, GIP IV, completed fund raising in December 2019, raising $22 billion.
GIP also manages several other Funds which focus on investments in infrastructure in other asset classes or target specific regions. GIP's Credit business manages over $4 billion across three Funds: GIP Capital Solutions I and GIP Capital Solutions II and GIP Spectrum.
As of December 2020, Global Infrastructure Partners had aggregate assets under management of approximately US$75 billion, such investments being concentrated in OECD countries. Its portfolio specifically included investment in the following assets:
- ADNOC Gas Pipelines
- Borkum Riffgrund 2
- ChannelView Cogeneration
- Clearway Energy
- Competitive Power Ventures
- Edinburgh Airport
- EnLink Midstream
- East India Petroleum Ltd.
- Empresa Eléctrica Guacolda S.A.
- Eolian Energy
- Freeport LNG
- Naturgy (fka Gas Natural SGD, S.A.)
- Gatwick Airport
- Gode Wind 1
- Guacolda Energia
- Hess Infrastructure Partners
- Hornsea 1
- London City Airport
- Medallion Gathering & Processing
- Nuovo Trasporto Viaggiatori
- Pacific National
- Port of Melbourne
- Port of Brisbane Corporation
- Saeta Yield/Bow Power
- Signature Aviation
- Terra-Gen Power
- TransitGas AG
- Terminal Investment Limited
- Vena Energy
- "Company Overview of Global Infrastructure Partners". Bloomberg Businessweek. Retrieved 15 October 2012.
- "Global Infrastructure Partners". Global Infrastructure Partners. Retrieved 23 September 2020.
- "Gatwick airport sold for £1.5bn". The Telegraph. 21 October 2009. Retrieved 15 October 2012.
- "BAA agrees Gatwick airport sale". BBC News. 21 October 2009. Retrieved 15 October 2012.
- "Edinburgh Airport sold to Global Infrastructure Partners for £807m". BBC News. 23 April 2012. Retrieved 15 October 2012.
- "Edinburgh Airport changes hands to Global Infrastructure Partners". BBC News. 1 June 2012. Retrieved 15 October 2012.
- "Global Infrastructure Partners raises record $8.25 billion". Reuters. 3 October 2012. Retrieved 15 October 2012.
- Krouse, Sarah, and Ryan Dezember, "BlackRock Goes $3.7 Billion Deeper Into Pipelines and Power", The Wall Street Journal, 1 February 2017. Retrieved 2017-02-01.
- "Investments". Global Infrastructure Partners. Retrieved 16 October 2012.