GIP is a US company so are any of these “assets” it owns even considered UK assets? Or are we saying that because they’re in the UK they are UK assets? Seems pretty simplistic but ok guardian you do your thing 🤭
This is the best summary I could come up with:
From the humble luggage tray to filters that mask smells at sewage plants, the sale of some of Britain’s most pedestrian assets to the world’s largest money manager is to bring a multimillion-dollar payday to a small clutch of little-known bankers.
Global Infrastructure Partners (GIP), which boasts a $100bn (£79bn) collection of companies including Gatwick airport and the Suez wastewater group, has been sold to the US investment firm BlackRock in a $12.5bn deal.
The price tag puts each of GIP’sfounders and partners in line for a huge payday, nearly two decades after the New York-headquartered ports-to-pipes private equity firm was formed.
GIP was devised by Ogunlesi, his fellow former Credit Suisse banker Matthew Harris and Bill Woodburn, a former General Electric infrastructure chief who they lured to join them over dinner in Manhattan.
The fund was started in 2006 with $500m each from General Electric and Credit Suisse, and grew quickly, snapping up crumbling assets in the energy, transport and water industries, before fixing them and selling them on.
Politicians have attempted to support infrastructure spending to boost their domestic economies, notably on renewable energy initiatives, including Joe Biden’s $369bn Inflation Reduction Act.
The original article contains 571 words, the summary contains 194 words. Saved 66%. I’m a bot and I’m open source!
