CCI greenlights BlackRock's acquisition of Global Infrastructure Management in expansion move

New Delhi [India], June 11 (ANI): The Competition Commission of India (CCI) has approved BlackRock Funding, Inc.'s acquisition of Global Infrastructure Management, LLC, marking a significant development in the global investment landscape.
According to CCI press release, this acquisition by BlackRock Funding, Inc., a subsidiary of BlackRock Inc., signifies a substantial expansion of BlackRock's infrastructure management capabilities and underscores the growing importance of infrastructure investments in global portfolios.
The approved combination involves BlackRock Funding, Inc. acquiring 100 per cent of the limited liability company interests in Global Infrastructure Management, LLC (GIM), positioning BlackRock for enhanced strategic influence in the global infrastructure sector, read the press release.
The acquisition involves BlackRock Funding, Inc. (BFI), a newly formed subsidiary of BlackRock Inc., purchasing the entirety of GIM's interests.
BFI itself is a newly established entity without independent operational activities, serving as a vehicle for this strategic acquisition.
BFI is a newly formed wholly owned subsidiary of BlackRock Inc. (BlackRock), with no independent activities. BlackRock is a U.S. publicly traded company active in the provision of global investment management, risk management and advisory services to institutional and retail clients around the world. BlackRock manages assets on behalf of institutional and individual investors worldwide.
GIM is a global independent infrastructure fund manager, headquartered in New York City, United States. GIM and its affiliates manage certain investment funds operating under the trading name Global Infrastructure Partners (the "GIP Funds"). (ANI)