BlackRock eyes 40% stake in Aboitiz InfraCapital

Foreign investor interest in Philippine infrastructure continues to grow, with Global Infrastructure Partners (GIP), a unit of global asset management firm BlackRock, finalizing plans for a strategic partnership with Aboitiz Equity Ventures Inc. (AEV).

The discussions include GIP’s acquisition of a 40 percent stake in Aboitiz InfraCapital (AIC), the infrastructure arm of the Aboitiz Group. Once completed, this deal is expected to become one of the most significant foreign equity investments in the country's infrastructure sector in recent years.

In a meeting held in the United States, President Ferdinand Marcos Jr. joined Aboitiz Group President and Chief Executive Officer Sabin M. Aboitiz and GIP Chairman and Chief Executive Officer Bayo Ogunlesi to discuss the strategic collaboration.

“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,” said President Marcos Jr.

Aboitiz InfraCapital manages a diverse portfolio of infrastructure assets that include major gateways such as the award-winning Mactan-Cebu International Airport, Laguindingan International Airport, and Bohol-Panglao International Airport. The company also operates in sectors like bulk-water supply, economic estates, and telecommunications towers, playing a key role in national development.

“We are honored to explore this opportunity with Global Infrastructure Partners. Our shared vision of modern, world-class infrastructure aligns with the country’s ambitions for progress,” said Aboitiz. “Together, we aim to deliver projects that improve lives and empower communities.”

GIP is recognized globally for investing in and managing complex infrastructure assets. With over $183 billion in assets under management, it operates across the energy, transport, digital infrastructure, and water and waste management sectors. Its platform combines scale, operational expertise, and long-term investment capabilities.

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

BlackRock, the parent company of GIP, is one of the largest asset managers in the world. According to its latest annual stewardship report, as of 31 December 2024, clients entrusted BlackRock with $11.6 trillion in assets under management.

More than half of this amount is related to retirement. By product type, 55 percent of client assets were in equity, with approximately 90 percent of public equity assets held in index strategies. Of the assets BlackRock manages, 54 percent are on behalf of institutional clients, 37 percent are held in exchange-traded funds, and 9 percent are on behalf of retail investors.

Globally, BlackRock engaged with 2,394 companies across 47 markets, with a total of 3,384 engagements, 664 of which were conducted multiple times.

Both groups see this potential partnership as an opportunity to combine their strengths and advance key infrastructure projects that will benefit Filipino communities.

The completion of the partnership remains subject to the signing of definitive documents, satisfactory due diligence, and applicable regulatory approvals.