BlackRock has entered into a definitive agreement with Infraestructura Institucional, a leading independently managed, infrastructure investment firm in Mexico. This is an acquisition of BlackRock which will expand BlackRock’s infrastructure capabilities in the country and deepening its presence in the country.
This agreement plans to improve BlackRock’s existing $6 billion global infrastructure platform. This will also strengthen the company’s business in Mexico. The acquisition also states that BlackRock will be able to complete the needs of its local and international clients. BlackRock infrastructure investment platform will now manage more than $7 billion of invested and committed assets. Along with these are over 80 employees that are located in 6 offices globally. BlackRock’s Mexico office will be under new management and this will expand to over 50 employees and around $26 billion of assets under management.
Jim Barry, global head of BlackRock Infrastructure Investment Group has mentioned in a statement regarding the acquisition: “As our clients’ demand for high quality infrastructure assets continues to grow, we believe that Mexico presents a rapidly evolving investment opportunity for institutional investors globally.” He added “Adding the Infraestructura Institucional team will enhance BlackRock’s ability to deliver previously untapped investment opportunities in Mexico to our local and international clients,”
Armando Senra, head of the Latin America & Iberia Region at BlackRock has also commented on the acquisition: “This acquisition advances BlackRock’s growth strategy in Mexico and Latin America and builds upon our well-established track record in the region.” He added: “Mexico is well-positioned for long-term economic growth and we are excited to further expand our presence in the country.”
Infraestructura Institucional is one of the most popular and most trusted companies with a broad range of infrastructure projects in Mexico. The company manages approximately $1 billion of invested and committed capital. The team in Infraestructura Institucional has extensive experience investing across infrastructure project types in Mexico and this includes transportation, energy and social infrastructure.
The deal is subject to regulatory approvals and is expected to close by the end of the fourth quarter of 2015. The financial effects of this deal are not material to BlackRock earnings per share. Terms of the deal were not disclosed.
BlackRock, Inc. is a multinational investment management corporation with headquarters in New York City. BlackRock was initially as a risk management and fixed income institutional asset manager, it is one of the world’s largest asset managers with over $4.77 trillion in assets under management. At the end of 2014, 65 percent of Blackrock’s assets under management were from institutional investors. Stock is owned by institutional and individual investors, including BlackRock employees.
BlackRock Solutions (BRS) serves two roles within BlackRock. It is the in-house investment analytics and “process engineering” department for BlackRock, BlackRock Solutions (BRS) and the three primary, FMA, and client solutions. As of 2013, the platform had nearly 2,000 employees. BlackRock stock market evolution: http://www.marketwatch.com/investing/stock/blk
About Jim Barry
Jim Barry is the Managing Director is global head of BlackRick Infrastructure Investment Group with BlackRoot Alternative Investors. Prior to joining BlackRock in 2001, Mr. Barry spent 11 years as the CEO of NTR plc. Prior to joining NTR, he worked at Bain and Company and in the investment banking division of Morgan Stanley. Mr. Barry earned a BComm from University College Cork and an MBA from Harvard Business School.
About Armando Senra
Armando Senra is the Head, Latin America and Iberia Region, BlackRock, USA. Senra is also the Managing Director, is Head of the Latin America & Iberia Region at BlackRock. Mr. Senra is also a member of BlackRock’s Global Operating Committee, Human Capital Committee and Global Executive Committee Client Subcommittee. Mr. Senra became Head of BlackRock’s Latin America and Iberia region in 2008. Senra began his career in 1994 at Merrill Lynch in the US, taking on a number of roles in New York and Princeton. He joined Merrill Lynch Investment Managers (MLIM) in 1997, which merged with BlackRock in 2006. In 1998 Mr. Senra became MLIM’s Head of Distribution for Merrill Lynch Global Wealth Management in EMEA, based out of London. Mr. Senra earned a double BA degree in economics and business administration from Universidad Antonio de Nebrija, Madrid, Spain while spending two years in North Carolina University.
About Infrastructura Institutional
Infrastructura Institucioal S. de RL de CV is a venture capital firm specializing in mezzanine seed/startup, early venture, mid- venture and late venture investments in infrastructure projects and development. It seeks to invest between MX350 million and MX500 million per project. The company was founded in 2009 and is based in Mexico City, Mexico. It operates as a subsidiary of Black Creek group.