Emmanuel OchayiIn a $12.5 billion deal, Blackrock is set to acquire Global Infrastructure Partners, founded by Nigerian investment banker Adebayo Ogunlesi.
The move is expected to catapult Ogunlesi’s net worth to $2.3 billion, securing his spot among the global billionaire elite.
Blackrock Chairman Laurence Fink expressed enthusiasm about the acquisition, deeming it “one of the most exciting long-term investment opportunities.” As part of the deal, Ogunlesi and five co-founders will receive $3 billion in cash and be offered 12 million shares in Blackrock, making them the second-largest shareholders in the asset management giant.
According to a Bloomberg report, the deal is expected to hoist Ogunlesi to billionaire status. With a 17.5 per cent stake in Global Infrastructure Partners, the Bloomberg Billionaires Index estimates his total fortune at approximately $2.3 billion.
Ogunlesi’s journey to this financial milestone took an unexpected turn in 2005. The then-Credit Suisse banker, summoned by Warren Buffett’s Berkshire Hathaway, contemplated a career switch.
His wife, Amelia, delivered an ultimatum: “Either you decide you like your job and want to keep doing it, or go find something else. But please don’t think you can spend the next five years moaning.”
Inspired by this ultimatum, Ogunlesi, at 52, transitioned from banking to investing. Opting for a contrarian bet, he and colleagues focused on a niche sector—financing and operating airports, energy plants, and other critical infrastructure.
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The Financial Times reports that Ogunlesi’s move paid off, culminating in the recent billion-dollar deal with Blackrock.
The 70-year-old financial expert, with a distinguished academic background from Oxford University and Harvard, has a storied career that includes heading Credit Suisse’s investment banking division and serving as the lead independent director at Goldman Sachs Group Inc.
As the deal inches closer to completion, Ogunlesi is poised to join the ranks of dollar-denominated billionaires, marking a remarkable chapter in his illustrious career.
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