BlackRock To Buy Mexico's Infraestructura Institucional

(RTTNews) - BlackRock, Inc. (BLK), the world's largest money manager, said Friday that it has agreed to buy Mexican infrastructure investment firm Infraestructura Institucional.

Terms of the deal were not disclosed.

Infraestructura Institucional is a leading investor across a broad range of infrastructure projects in Mexico and manages about $1 billion of invested and committed capital. The team has extensive experience investing across infrastructure project types in Mexico including transportation, energy and social infrastructure.

The acquisition will fully enable BlackRock to deliver to its local and international clients the compelling infrastructure opportunities emerging in Mexico. Upon closing, BlackRock's infrastructure investment platform will manage more than $7 billion of invested and committed assets and over 80 employees located in 6 offices globally. The Firm's Mexico office will grow to over 50 employees and $26 billion of assets under management.

The deal is expected to close by the end of the fourth quarter of 2015. The financial impact of the deal is not material to BlackRock earnings per share.