Adebayo Ogunlesi’s Gamble Pays Off with a $12.5bn BlackRock Partnership
Adebayo “Bayo” Ogunlesi, the Nigerian-born lawyer and investment banker who has had a successful career on Wall Street, is taking on a new challenge. The Global Infrastructure Partners (GIP) co-founder recently made headlines with a $12.5bn deal with BlackRock. This partnership not only solidifies his position as a leading figure in finance but also marks a significant shift in his career path.
Ogunlesi’s journey is a testament to his strategic foresight and resilience. Encouraged by his wife, Amelia Quist-Ogunlesi, he made a daring career switch from banking to infrastructure investment, co-founding GIP. Despite initial setbacks, including a failed investment in UK waste management company Biffa, Ogunlesi’s firm focused on enhancing the value of infrastructure assets through operational improvements. This approach led GIP to acquire a diverse portfolio that spans airports, ports, pipelines, data centers, and high-speed rail.
The BlackRock deal is a result of Ogunlesi’s contrarian bet on the value of infrastructure assets. This tie-up aims to leverage the strength of BlackRock’s $10tn asset management for larger investments. Most of the $12.5bn price tag will be paid in BlackRock shares, with Ogunlesi leading the combined division alongside GIP president Raj Rao. This deal propels Ogunlesi’s net worth to an estimated $2.3 billion.
Despite this landmark deal, Ogunlesi is known for his humble demeanor and low public profile. He serves on various boards, including Goldman Sachs and the Lincoln Center, while avoiding the limelight. Yet, friends caution against underestimating him, describing Ogunlesi as fiercely competitive.
As he embarks on this new chapter with BlackRock, marking his first time having a boss in 18 years, Ogunlesi’s journey serves as an inspiring tale of resilience, strategic decision-making, and humble leadership.
