Blackrock, Santander Team Up for $600M Infrastructure Credit Deal 

BlackRock and Santander announced that funds and accounts managed by the asset manager will provide financing on a $600 million diversified portfolio of infrastructure credit across communications, energy, power and transportation sectors through a structured transaction.   

“We have a longstanding relationship with Santander and look forward to providing flexible capital to support the growth of its global project finance franchise and all sectors of the burgeoning infrastructure economy,” said BlackRock vice chairman Gary Shedlin. 

BlackRock currently manages over $50 billion in infrastructure client assets across equity, debt, and solutions, but this figure is set to explode higher as the firm’s acquisition of Global Infrastructure Partners, which is expected to close in the third quarter, creates an infrastructure investment platform with over $150 billion in assets under management. 

Other recent major achievements for Blackrock’s infrastructure division include the completion of a $1 billion fundraising campaign for its Evergreen Infrastructure Fund in November 2023. In the same month, the asset manager announced a $550 million joint venture with oil and gas major Occidental to create the world’s largest direct air capture plant.