BlackRock has agreed to acquire Mexico City-based infrastructure investment firm Infraestructura Institucional, said a news release issued Friday.
Terms of the deal were not disclosed.
The agreement expands BlackRock’s infrastructure capabilities in Mexico. The transaction is expected to close by the end of the year.
The acquisition will enable BlackRock to deliver infrastructure opportunities emerging in Mexico to its clients.
Infraestructura Institucional manages about $1 billion of invested and committed capital. Once the deal is closed, BlackRock’s infrastructure investment platform will manage more than $7 billion of invested and committed assets. Its Mexico office will grow to more than 50 employees and $26 billion in assets under management. BlackRock’s Mexico office currently has 27 employees.
“This acquisition advances BlackRock’s growth strategy in Mexico and Latin America,” said Armando Senra, managing director and head of the Latin America and Iberia region, in the news release.
BlackRock had $4.774 trillion in assets as of March 31, of which $109 billion is in Latin America, including $25 billion in Mexico.
Spokesman Brian Beades could not be reached by press time.