LISTED conglomerate Aboitiz Equity Ventures, Inc. (AEV) said it is finalizing a strategic partnership with Global Infrastructure Partners (GIP), a US-based infrastructure fund manager owned by global asset management giant BlackRock, Inc., for the acquisition of a 40% stake in its infrastructure arm, Aboitiz InfraCapital, Inc.
“We are honored to explore this opportunity with Global Infrastructure Partners,” AEV President and Chief Executive Officer (CEO) Sabin M. Aboitiz said in a statement to the stock exchange on Thursday. “Our shared vision of modern, world-class infrastructure aligns with the country’s ambitions for progress,” he added.
GIP, which manages over $183 billion in infrastructure assets across sectors such as energy, transport, digital infrastructure, and water, has stakes in major assets including London’s Gatwick Airport and Australia’s Port of Melbourne. Its parent firm, BlackRock, is the world’s largest asset manager and is listed on the New York Stock Exchange under the ticker symbol BLK.
AEV said its executives, along with President Ferdinand R. Marcos, Jr., met with GIP Chairman and CEO Bayo Ogunlesi during a recent high-level meeting in the United States.
“This collaboration marks a strong vote of confidence in the Philippines’ future. With global partners like GIP working alongside respected Filipino firms such as Aboitiz, we can build infrastructure that is more resilient, inclusive, and forward-looking,” Mr. Marcos said.
“GIP’s entry signifies the remarkable potential for infrastructure investments in the Philippines. The choice of Aboitiz is very strategic,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message to BusinessWorld.
AEV said the parties are “in the process of finalizing” the transaction, which it described as potentially one of the most significant foreign equity investments in Philippine infrastructure in recent years.
“This collaboration underscores growing global investor confidence in the Philippine market and reinforces the country’s standing as a prime investment destination in Asia,” the company added.
Aboitiz InfraCapital is the Aboitiz group’s infrastructure arm and the private operator of several airport assets in the Philippines, including the Mactan-Cebu International Airport (through Aboitiz InfraCapital Cebu Airport Corp.), the Laguindingan International Airport, and the New Bohol-Panglao International Airport.
The company also has interests in water infrastructure, data centers, and telecommunications.
According to Mr. Colet, GIP is not only acquiring a stake in a strong infrastructure portfolio but is also forming a flexible partnership platform for future expansion.
“It is also creating a formidable partnership that can expand aggressively in the local infrastructure space. There is ample liquidity and appetite among the leading domestic banks to back the investment plans of the Aboitiz-GIP tandem,” he said.
He added that infrastructure investment has significant multiplier effects on the broader economy, making the deal strategically important.
“We are pleased to have the opportunity to become a strategic partner of the Aboitiz group… The Philippines has compelling growth prospects, which can be further enhanced by developing world-class infrastructure,” GIP’s Mr. Ogunlesi said.
BDO Capital President Eduardo V. Francisco said the partnership would boost AEV’s capital and expand its pipeline of infrastructure projects.
“This would provide positive signals on the Philippine economy and financial markets with the possible investment by one of the biggest global investors,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said, describing the deal as a vote of confidence in the country and a potential catalyst for attracting other global fund managers to Philippine infrastructure.
Shares in AEV rose by 75 centavos or 2.29% to close at P33.50 each on Thursday. — Ashley Erika O. Jose
