Industry Private equity Headquarters United States of America Type Partnership | Website www.global-infra.com Founded May 2006 | |
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Key people Adebayo Ogunlesi (Managing Partner and Chairman) AUM approx. US$40 billion (2016) | ||
Global infrastructure partners
Global Infrastructure Partners (GIP) is an infrastructure investment fund making both equity and selected debt investments. As a leading, global, independent, infrastructure investor, GIP combines specialist industry experience and industrial best practice operational management to achieve superior risk-adjusted returns. The Fund applies its complementary skill sets and experience to actively manage its portfolio investments with the goals of improving their service quality and financial performance. 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 Australia and operational headquarters in Stamford, Connecticut. In the aggregate, its portfolio companies employ approximately 21,000 people.
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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 and the 2012 acquisition of Edinburgh Airport for £807 million.
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 $5.65 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.
Current Investments
As of January 2017, Global Infrastructure Partners had aggregate assets under management of approximately US$40 billion with its investments largely concentrated in OECD countries. At this time, the Fund's portfolio included investments in the following assets: