# Adebayo Ogunlesi
**Adebayo Ogunlesi** (born 1953 in Sagamu, Nigeria) is a Nigerian-born financier who co-founded [Global Infrastructure Partners](https://www.edgepedia.org/global-infrastructure-partners) (GIP) in 2006, built it into the world's largest independent infrastructure manager, and sold it to [BlackRock](https://www.edgepedia.org/blackrock) in a deal valued at about $12.5 billion; he now serves as Senior Managing Director, Chairman and CEO of GIP, a part of BlackRock, and sits on BlackRock's board.[1](https://dukeintmagazine.com/adebayo-ogunlesi-celebrating-black-excellence-in-investment-banking/) • [2](https://www.sec.gov/Archives/edgar/data/1364742/000095017024004107/blk-ex99_2.htm) • [3](https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-Completes-Acquisition-of-Global-Infrastructure-Partners/default.aspx)
| Key fact | Detail |
|---|---|
| Born | 1953, Sagamu, Nigeria; educated at King's College, Lagos[1](https://dukeintmagazine.com/adebayo-ogunlesi-celebrating-black-excellence-in-investment-banking/) |
| Education | B.A. First Class Honors in PPE, Oxford; J.D. magna cum laude, Harvard Law; M.B.A., Harvard Business School[4](https://www.blackrock.com/corporate/about-us/leadership/adebayo-ogunlesi) |
| Pre-GIP career | 23 years at Credit Suisse, including Head of Global Investment Banking (2002–2004) and Executive Vice Chairman and Chief Client Officer[4](https://www.blackrock.com/corporate/about-us/leadership/adebayo-ogunlesi) |
| GIP founding | July 2006, New York, with five co-founders; $500 million from Credit Suisse plus a similar amount from General Electric[5](https://nairametrics.com/2021/04/17/meet-adebayo-ogunlesi-nigerias-investment-banker-shaking-up-wall-street/) • [6](https://www.proximoinfra.com/articles/8334/gips-rise-and-the-decline-of-industrial-sponsors) |
| Flagship funds | GIP I $5.64 billion; GIP II $8.25 billion (2012); GIP III $15.8 billion (2017); GIP IV $22 billion (2019)[7](https://www.billionaires.africa/2023/10/31/adebayo-ogunlesi-nigerian-billionaire-whose-firm-owns-londons-gatwick-airport/) |
| BlackRock deal | $3 billion cash plus about 12 million shares, roughly $12.5 billion total, about 30% deferred; completed October 1, 2024[2](https://www.sec.gov/Archives/edgar/data/1364742/000095017024004107/blk-ex99_2.htm) • [3](https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-Completes-Acquisition-of-Global-Infrastructure-Partners/default.aspx) |
| Personal wealth | Estimated 17.5% GIP stake worth about $2.3 billion; personally received $600 million in cash and 1,822,926 BlackRock shares[8](https://financialpost.com/pmn/business-pmn/blackrock-deal-mints-gip-fortunes-led-by-ogunlesis-billions) • [9](https://shore.africa/2026/03/02/nigerian-billionaire-adebayo-ogunlesis-gip-nears-deal-to-acquire-power-firm-aes/) |
| Current roles | Chairman and CEO of GIP under BlackRock; BlackRock board; boards of OpenAI, Topgolf Callaway Brands, Kosmos Energy Holdings, Terminal Investment Limited[3](https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-Completes-Acquisition-of-Global-Infrastructure-Partners/default.aspx) • [4](https://www.blackrock.com/corporate/about-us/leadership/adebayo-ogunlesi) |
## Early life and education
Ogunlesi was born in 1953 in Sagamu, Nigeria, and attended King's College in Lagos before moving to Britain for university.[1](https://dukeintmagazine.com/adebayo-ogunlesi-celebrating-black-excellence-in-investment-banking/) At Oxford he took a B.A. in philosophy, politics, and economics with First Class Honors, then moved to the United States for a J.D. magna cum laude at [Harvard Law School](https://www.edgepedia.org/harvard-law-school) and an M.B.A. from [Harvard Business School](https://www.edgepedia.org/harvard-business-school).[4](https://www.blackrock.com/corporate/about-us/leadership/adebayo-ogunlesi)
His first career was law. He clerked for [Thurgood Marshall](https://www.edgepedia.org/thurgood-marshall), Associate Justice of the U.S. Supreme Court, then practiced as an attorney at [Cravath, Swaine & Moore](https://www.edgepedia.org/cravath-swaine-and-moore), and later lectured at Harvard and Yale Law Schools and the Yale School of Management.[4](https://www.blackrock.com/corporate/about-us/leadership/adebayo-ogunlesi)
## Credit Suisse First Boston
Ogunlesi spent 23 years at [Credit Suisse](https://www.edgepedia.org/credit-suisse), rising to Executive Vice Chairman and Chief Client Officer of its Investment Banking Division and serving as Head of Global Investment Banking from 2002 to 2004.[4](https://www.blackrock.com/corporate/about-us/leadership/adebayo-ogunlesi) He left CSFB on good terms in 2006, and the departure itself seeded his new firm: Credit Suisse committed $500 million as a first investor, matched by a similar amount from [General Electric](https://www.edgepedia.org/general-electric).[5](https://nairametrics.com/2021/04/17/meet-adebayo-ogunlesi-nigerias-investment-banker-shaking-up-wall-street/) • [6](https://www.proximoinfra.com/articles/8334/gips-rise-and-the-decline-of-industrial-sponsors)
## Founding and building Global Infrastructure Partners
In July 2006 Ogunlesi founded GIP in New York City with five co-founders: Jonathan Bram, Matt Harris, Michael McGhee, Bill Woodburn, and Raj Rao.[5](https://nairametrics.com/2021/04/17/meet-adebayo-ogunlesi-nigerias-investment-banker-shaking-up-wall-street/) • [10](https://www.theafricareport.com/333471/who-is-adebayo-ogunlesi-the-nigerian-who-charmed-blackrock/) The founding partners raised more than $5 billion at launch, and within a few years the firm owned London's Gatwick and City airports, and Edinburgh's airport.[8](https://financialpost.com/pmn/business-pmn/blackrock-deal-mints-gip-fortunes-led-by-ogunlesis-billions)
The fund sequence shows the firm's growth. GIP I raised $5.64 billion and was fully invested by 2012; GIP II raised $8.25 billion in September 2012, at the time the world's largest independent infrastructure fund; GIP III secured $15.8 billion in January 2017; and GIP IV reached $22 billion in December 2019, the figure BlackRock cites as its most recent fully invested flagship.[7](https://www.billionaires.africa/2023/10/31/adebayo-ogunlesi-nigerian-billionaire-whose-firm-owns-londons-gatwick-airport/) • [2](https://www.sec.gov/Archives/edgar/data/1364742/000095017024004107/blk-ex99_2.htm) In 2014 GIP closed the $739 million GIP Capital Solutions Fund I, extending into credit products.[6](https://www.proximoinfra.com/articles/8334/gips-rise-and-the-decline-of-industrial-sponsors)
**Signature deals.** GIP bought [London City Airport](https://www.edgepedia.org/london-city-airport) for £760 million in 2006 and sold it to a Canadian-led consortium for £2 billion in 2016.[11](https://www.theguardian.com/business/2024/jan/12/blackrock-buys-global-infrastructure-partners) In 2009 it acquired the majority share in London Gatwick Airport from the British Airports Authority; sources differ on the price, with Nairametrics recording £1.455 billion and The Africa Report £1.5 billion ($1.9 billion), a related profile recording the completed deal at £1.51 billion.[5](https://nairametrics.com/2021/04/17/meet-adebayo-ogunlesi-nigerias-investment-banker-shaking-up-wall-street/) • [10](https://www.theafricareport.com/333471/who-is-adebayo-ogunlesi-the-nigerian-who-charmed-blackrock/) • [12](https://www.africanleadershipmagazine.co.uk/adebayo-ogunlesi-the-nigerian-man-who-bought-londons-second-largest-international-airport/) It followed with [Edinburgh Airport](https://www.edgepedia.org/edinburgh-airport) in 2012, which handled over 14.7 million passengers in 2019, and [Sydney Airport](https://www.edgepedia.org/sydney-airport) in Australia.[5](https://nairametrics.com/2021/04/17/meet-adebayo-ogunlesi-nigerias-investment-banker-shaking-up-wall-street/) • [10](https://www.theafricareport.com/333471/who-is-adebayo-ogunlesi-the-nigerian-who-charmed-blackrock/) Transport holdings also include Port of Melbourne, Port of Brisbane, Pacific National, Italo, Terminal Investment Limited, and a stake in Peel Ports.[5](https://nairametrics.com/2021/04/17/meet-adebayo-ogunlesi-nigerias-investment-banker-shaking-up-wall-street/) • [11](https://www.theguardian.com/business/2024/jan/12/blackrock-buys-global-infrastructure-partners) In energy and digital infrastructure, GIP's investments include Suez, CyrusOne, the renewables platforms Clearway, Vena, Atlas, and Eolian, three leading US independent power producers (Clearway Energy, Competitive Power Ventures and Terra-Gen), Vantage Towers with 83,000 telecom towers in Europe, and ADNOC Gas Pipelines.[2](https://www.sec.gov/Archives/edgar/data/1364742/000095017024004107/blk-ex99_2.htm) • [6](https://www.proximoinfra.com/articles/8334/gips-rise-and-the-decline-of-industrial-sponsors) • [10](https://www.theafricareport.com/333471/who-is-adebayo-ogunlesi-the-nigerian-who-charmed-blackrock/)
BlackRock attributes GIP's performance to proprietary origination, operational improvements, and timely exits, with a dedicated business-improvement team; the trade press notes that GIP aggressively adapted the UK water-industry securitisation model to aviation assets.[13](https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackRock-agrees-to-acquire-global-infrastructure-partners) • [6](https://www.proximoinfra.com/articles/8334/gips-rise-and-the-decline-of-industrial-sponsors)
## The BlackRock acquisition and after
In January 2024 BlackRock agreed to acquire 100% of GIP for $3 billion in cash plus approximately 12 million BlackRock shares, worth about $9.5 billion at the January 11 close, for a total of roughly $12.5 billion; about 30% of the consideration, all in stock, is deferred and expected to be issued in about five years.[2](https://www.sec.gov/Archives/edgar/data/1364742/000095017024004107/blk-ex99_2.htm) • [14](https://www.bloomberg.com/news/articles/2024-01-12/blackrock-buys-infrastructure-firm-gip-for-12-5-billion-in-alternatives-push) The deal completed on October 1, 2024, creating a combined infrastructure platform of approximately $170 billion in AUM with a 600-person global team and more than 300 active investments in over 100 countries.[3](https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-Completes-Acquisition-of-Global-Infrastructure-Partners/default.aspx) The combination consolidated over $100 billion of private markets AUM and about $750 million of run-rate management fees, boosting BlackRock's private markets AUM by about 40%.[3](https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-Completes-Acquisition-of-Global-Infrastructure-Partners/default.aspx)
Ogunlesi stayed on. His title became Senior Managing Director, Chairman and CEO of GIP, a part of BlackRock, reporting to Laurence Fink, with seats on BlackRock's Global Executive Committee and board; his base salary is $250,000 annualized with a targeted bonus of no less than $3,750,000, and his pre-closing carried-interest allocations in existing GIP funds remain fully intact.[3](https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-Completes-Acquisition-of-Global-Infrastructure-Partners/default.aspx) • [15](https://www.sec.gov/Archives/edgar/data/2012383/000095017025026584/blk-ex10_33.htm) Five of GIP's six founding partners joined BlackRock as part of the deal.[11](https://www.theguardian.com/business/2024/jan/12/blackrock-buys-global-infrastructure-partners)
Post-deal, the platform has kept transacting at scale: GIP led the $40 billion acquisition of Aligned Data Centers and an $11 billion lease deal tied to [Saudi Aramco](https://www.edgepedia.org/saudi-aramco) natural gas assets; in 2025 GIP, with Terminal Investment Limited and MSC, agreed to acquire port operations near the [Panama Canal](https://www.edgepedia.org/panama-canal) from CK Hutchison, with an aggregate enterprise value of $22.8 billion for the full HPH Ports sale perimeter; and GIP has been in advanced discussions to acquire AES Corp., a US power producer valued at roughly $40 billion.[9](https://shore.africa/2026/03/02/nigerian-billionaire-adebayo-ogunlesis-gip-nears-deal-to-acquire-power-firm-aes/) • [16](https://naturenews.africa/nigerian-billionaire-adebayo-ogunlesi-leads-blackrocks-23bn-acquisition-of-panama-canal-ports/) • [17](https://www.billionaires.africa/2026/01/25/two-years-after-buying-nigerian-billionaire-ogunlesis-gip-blackrock-hits-14-trillion/)
## By the numbers
At announcement GIP managed over $100 billion in client assets across infrastructure equity and debt, with about 400 employees, over 40 portfolio companies generating over $75 billion in annual revenue and employing about 115,000 people; The Africa Report put AUM at about $106 billion at the sale.[2](https://www.sec.gov/Archives/edgar/data/1364742/000095017024004107/blk-ex99_2.htm) • [10](https://www.theafricareport.com/333471/who-is-adebayo-ogunlesi-the-nigerian-who-charmed-blackrock/) GIP's infrastructure equity funds represented about $60 billion of the firm's AUM.[7](https://www.billionaires.africa/2023/10/31/adebayo-ogunlesi-nigerian-billionaire-whose-firm-owns-londons-gatwick-airport/)
The [Bloomberg Billionaires Index](https://www.edgepedia.org/bloomberg-billionaires-index) calculated his stake at 17.5% of GIP, a fortune of about $2.3 billion, with an equal split giving GIP's 27 other partners stakes worth more than $380 million each; he personally received $600 million in cash and 1,822,926 BlackRock shares.[8](https://financialpost.com/pmn/business-pmn/blackrock-deal-mints-gip-fortunes-led-by-ogunlesis-billions) • [9](https://shore.africa/2026/03/02/nigerian-billionaire-adebayo-ogunlesis-gip-nears-deal-to-acquire-power-firm-aes/) BlackRock's own AUM climbed to $14 trillion, as reported in January 2026.[17](https://www.billionaires.africa/2026/01/25/two-years-after-buying-nigerian-billionaire-ogunlesis-gip-blackrock-hits-14-trillion/)
## How it compares with other infrastructure managers
In the 2025 IPE Top 100 Infrastructure Investment Managers survey, Macquarie Asset Management ranked first with $355.2 billion as of 31 March 2025, Brookfield ranked second with $301.1 billion as of 31 December 2024, and Global Infrastructure Partners (BlackRock) ranked third with $163.2 billion as of 31 December 2024; KKR ranked seventh with $76.6 billion and Blackstone Infrastructure ninth with $55.0 billion, both as of 31 March 2025.[18](https://www.macquarie.com/assets/macq/mam/insights/2025/macquarie-asset-management-tops-ipe-real-assets-100-infrastructure-investment-managers-2025/ipe-top-100-infrastructure-managers-survey-2025.pdf) The IPE figure differs from BlackRock's "approximately $170 billion" completion figure.[3](https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-Completes-Acquisition-of-Global-Infrastructure-Partners/default.aspx) • [18](https://www.macquarie.com/assets/macq/mam/insights/2025/macquarie-asset-management-tops-ipe-real-assets-100-infrastructure-investment-managers-2025/ipe-top-100-infrastructure-managers-survey-2025.pdf) Before the sale, GIP was the largest independent infrastructure manager by AUM globally, and the takeover made BlackRock the world's second-largest infrastructure investor behind [Macquarie](https://www.edgepedia.org/macquarie).[2](https://www.sec.gov/Archives/edgar/data/1364742/000095017024004107/blk-ex99_2.htm) • [11](https://www.theguardian.com/business/2024/jan/12/blackrock-buys-global-infrastructure-partners)
## Boards, advisory roles and African investment
Ogunlesi was appointed lead independent director at Goldman Sachs in 2014 and planned to resign that position after GIP's sale.[8](https://financialpost.com/pmn/business-pmn/blackrock-deal-mints-gip-fortunes-led-by-ogunlesis-billions) He joined the OpenAI board in January 2025, and also sits on the boards of Topgolf Callaway Brands, Kosmos Energy Holdings, and Terminal Investment Limited.[19](https://nairametrics.com/2026/09/24/how-nigerias-lng-project-led-billionaire-bayo-ogunlesi-from-law-to-banking/) • [4](https://www.blackrock.com/corporate/about-us/leadership/adebayo-ogunlesi) In politics, Donald Trump named him to the President's Strategic and Policy Forum after the 2016 election, and he chaired Joe Biden's National Infrastructure Advisory Council.[8](https://financialpost.com/pmn/business-pmn/blackrock-deal-mints-gip-fortunes-led-by-ogunlesis-billions)
His African footprint runs through the Africa Finance Corporation, where he was appointed non-executive chairman in 2009; the AFC was a lead investor in the $240 million Main One submarine fiber optic cable and led Africa's participation in the $750 million syndicated lending facility for Ghana's Jubilee Oil Field. He also served as an informal adviser to former Nigerian president Olusegun Obasanjo.[12](https://www.africanleadershipmagazine.co.uk/adebayo-ogunlesi-the-nigerian-man-who-bought-londons-second-largest-international-airport/) Since the BlackRock sale he has spoken of expanding African exposure: BlackRock oversees roughly $28 to $30 billion in South Africa-linked AUM, which he expects to increase significantly over five years, and President Ramaphosa referenced a $500 million BlackRock commitment to African Infrastructure Fund III targeting energy systems, logistics corridors, and transport infrastructure.[20](https://africa.businessinsider.com/local/markets/us-based-nigerian-billionaire-ogunlesi-targets-growth-of-dollar30-billion-asset/4n1gb9e) He has confirmed active investment interest in Nigeria across energy, gas, aviation, ports, and renewables, noting that one of his companies operates ports in Cotonou and Lomé but none in Nigeria.[21](https://africa.businessinsider.com/local/markets/nigerian-american-billionaire-ogunlesi-eyes-mega-energy-aviation-port-investments-in/2m36vrw) In a separate African energy transaction, TotalEnergies signed an agreement with GIP under which, in exchange for a $1.8 billion capital contribution, TotalEnergies will pay GIP a throughput-based tariff over up to 15 years relating to oil and gas infrastructure assets in Africa.[22](https://totalenergies.com/newsroom/totalenergies-signs-an-agreement-with-gip-on-african-energy-infrastructure-assets/?lang=eng)
## References
1. [Adebayo Ogunlesi: Celebrating Black Excellence In Investment Banking, Duke International Magazine](https://dukeintmagazine.com/adebayo-ogunlesi-celebrating-black-excellence-in-investment-banking/)
2. [BlackRock agreement announcement (SEC EX-99.2), January 2024](https://www.sec.gov/Archives/edgar/data/1364742/000095017024004107/blk-ex99_2.htm)
3. [BlackRock Completes Acquisition of Global Infrastructure Partners, BlackRock IR, October 1, 2024](https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-Completes-Acquisition-of-Global-Infrastructure-Partners/default.aspx)
4. [Adebayo Ogunlesi leadership profile, BlackRock](https://www.blackrock.com/corporate/about-us/leadership/adebayo-ogunlesi)
5. [Meet Adebayo Ogunlesi, Nigeria's investment banker shaking up Wall Street, Nairametrics (2021)](https://nairametrics.com/2021/04/17/meet-adebayo-ogunlesi-nigerias-investment-banker-shaking-up-wall-street/)
6. [GIP's rise and the decline of industrial sponsors, Proximo](https://www.proximoinfra.com/articles/8334/gips-rise-and-the-decline-of-industrial-sponsors)
7. [Adebayo Ogunlesi: Nigerian billionaire whose firm owns London's Gatwick Airport, billionaires.africa (2023)](https://www.billionaires.africa/2023/10/31/adebayo-ogunlesi-nigerian-billionaire-whose-firm-owns-londons-gatwick-airport/)
8. [BlackRock Deal Mints GIP Fortunes Led By Ogunlesi's Billions, Bloomberg via Financial Post](https://financialpost.com/pmn/business-pmn/blackrock-deal-mints-gip-fortunes-led-by-ogunlesis-billions)
9. [Adebayo Ogunlesi's GIP nears deal to acquire power firm AES, Shore Africa (2026)](https://shore.africa/2026/03/02/nigerian-billionaire-adebayo-ogunlesis-gip-nears-deal-to-acquire-power-firm-aes/)
10. [Who is Adebayo Ogunlesi, the Nigerian who charmed BlackRock, The Africa Report](https://www.theafricareport.com/333471/who-is-adebayo-ogunlesi-the-nigerian-who-charmed-blackrock/)
11. [Sale of UK assets to world's largest money manager means huge payday for bankers, The Guardian (2024)](https://www.theguardian.com/business/2024/jan/12/blackrock-buys-global-infrastructure-partners)
12. [Adebayo Ogunlesi, The Nigerian Man Who Bought London's Second Largest International Airport, African Leadership Magazine](https://www.africanleadershipmagazine.co.uk/adebayo-ogunlesi-the-nigerian-man-who-bought-londons-second-largest-international-airport/)
13. [BlackRock agrees to acquire Global Infrastructure Partners, BlackRock press release](https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackRock-agrees-to-acquire-global-infrastructure-partners)
14. [BlackRock Buys GIP for $12.5 Billion in Alternatives Push, Bloomberg (2024)](https://www.bloomberg.com/news/articles/2024-01-12/blackrock-buys-infrastructure-firm-gip-for-12-5-billion-in-alternatives-push)
15. [Ogunlesi employment agreement (SEC EX-10.33), 2025](https://www.sec.gov/Archives/edgar/data/2012383/000095017025026584/blk-ex10_33.htm)
16. [Ogunlesi leads BlackRock's $23bn acquisition of Panama Canal ports, Nature News](https://naturenews.africa/nigerian-billionaire-adebayo-ogunlesi-leads-blackrocks-23bn-acquisition-of-panama-canal-ports/)
17. [Two years after buying Ogunlesi's GIP, BlackRock hits $14 trillion, billionaires.africa (2026)](https://www.billionaires.africa/2026/01/25/two-years-after-buying-nigerian-billionaire-ogunlesis-gip-blackrock-hits-14-trillion/)
18. [IPE Top 100 Infrastructure Investment Managers Survey 2025](https://www.macquarie.com/assets/macq/mam/insights/2025/macquarie-asset-management-tops-ipe-real-assets-100-infrastructure-investment-managers-2025/ipe-top-100-infrastructure-managers-survey-2025.pdf)
19. [How Nigeria's LNG project led Bayo Ogunlesi from Law to Banking, Nairametrics (2026)](https://nairametrics.com/2026/09/24/how-nigerias-lng-project-led-billionaire-bayo-ogunlesi-from-law-to-banking/)
20. [Ogunlesi targets growth of $30 billion asset exposure in Africa, Business Insider Africa](https://africa.businessinsider.com/local/markets/us-based-nigerian-billionaire-ogunlesi-targets-growth-of-dollar30-billion-asset/4n1gb9e)
21. [Ogunlesi eyes mega energy, aviation, port investments in Africa, Business Insider Africa](https://africa.businessinsider.com/local/markets/nigerian-american-billionaire-ogunlesi-eyes-mega-energy-aviation-port-investments-in/2m36vrw)
22. [TotalEnergies Signs an Agreement with GIP on African Energy Infrastructure Assets](https://totalenergies.com/newsroom/totalenergies-signs-an-agreement-with-gip-on-african-energy-infrastructure-assets/?lang=eng)
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*Topic: Encyclopedia › Society and history › Economics and business › Finance › Venture capital and private equity*
*Initially written Sep 17, 2026 · Reviewed: Oct 10, 2026 · Edited: Oct 10, 2026; Oct 11, 2026 · Last review: Oct 10, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license