)
In a move to jump on the infrastructure bandwagon ahead of President Donald Trump's $1 trillion infrastructure spending plan, BlackRock has agreed to buy two energy infrastructure funds that invest in oil and gas pipelines, power plants and energy storage facilities for $3.7B from First Reserve.
The move is a clear sign the world’s largest asset manager thinks investors will want to pile into more infrastructure projects, the Wall Street Journal reports. That isn’t a strange bet to make, considering Trump’s promise to overhaul U.S. infrastructure and his recent orders reviving the Keystone XL pipeline and pushing forward the much-protested Dakota Access pipeline.
Other firms are busy raising money to throw into infrastructure, including Carlyle Group and Global Infrastructure Partners, which told investors their newest fund could hit $15B. That would make it the largest infrastructure fund ever assembled. [WSJ]
)
)
)
)
)
)
)
)
)
)
)
)