Blackrock arm sets 40% AIC infusion

A unit of the global asset management giant BlackRock, American infrastructure investment fund Global Infrastructure Partners (GIP), plans to acquire a 40-percent stake in Aboitiz InfraCapital (AIC), the infrastructure arm of the Aboitiz Group, potentially paving the way for a New York Stock Exchange listing for the local firm.

GIP chairperson and CEO Bayo Ogunlesi is betting on the Philippines’ long-term growth, with GIP now managing over $183 billion in assets spanning energy, transport, digital infrastructure, and water and waste management.

If completed, it would be among the most significant foreign equity investments in Philippine infrastructure in recent years.

BlackRock has a fund that invests in a portfolio of assets whose performance seeks to match that of the S&P 500 index, a basket of 500 US-listed stocks widely considered to be held by many investors.

The S&P 500 is considered a representative of Wall Street sentiment. The S&P 500 tracking fund is also targeting local investors who wish to take a position in the US market and capitalize on the rebound of the US economy.

“We are pleased to have the opportunity to become a strategic partner of the Aboitiz Group,” Ogunlesi said.

“The Philippines has compelling growth prospects, which can be further enhanced by developing world-class infrastructure. We look forward to working with our partners at Aboitiz Group to leverage our combined capabilities to deliver best-in-class infrastructure services to the people of the Philippines,” he added.

To draw more global capital

In a statement on Thursday, AIC said the planned equity sale would help accelerate its growth and attract more global capital to support the country’s development. The transaction, however, is subject to confirmatory due diligence, definitive documentation, and regulatory approvals.

The potential deal was discussed in a high-level meeting in the United States attended by President Ferdinand R. Marcos Jr., Aboitiz Group president and CEO Sabin M. Aboitiz, and Ogunlesi.

“This collaboration marks a strong vote of confidence in the Philippines’ future. With global partners like GIP working alongside respected Filipino firms such as Aboitiz, we can build infrastructure that is more resilient, inclusive, and forward-looking,” Marcos said.