BlackRock’s GIP Eyes Bundling Fund Stakes in Securitization Deal

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Or sign-in if you have an account.(Bloomberg) — BlackRock Inc.’s Global Infrastructure Partners LP has been in discussions with investors to sell bonds backed by stakes in some of its private capital funds, joining a growing list of asset managers exploring ways to bolster returns on their holdings. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountGIP is considering a collateralized fund obligation deal bundling more than $1 billion of its stakes, according to people familiar with the matter. The talks are at an exploratory phase and the plans could change, said the people, asking not to be identified because the matter is confidential. A representative for GIP declined to comment.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againA CFO is a type of securitization that groups stakes in private capital funds into tranches of rated notes, allowing fixed-income investors including insurers to buy higher-rated parts of the debt. The market for CFOs could top $30 billion of new volume this year, up 50% from 2025, according to executives at Evercore Inc. A senior portion of GIP’s potential CFO deal has been discussed at a spread of around 250 basis points over a lending benchmark, said the people. A mezzanine tranche of the deal is being considered at a spread of around 475 basis points, they said.The secondary market for private assets, including CFOs, has boomed in recent years as a prolonged deal rut has slowed asset sales by buyout firms. Copenhagen Infrastructure Partners, which specializes in energy infrastructure, is working with Morgan Stanley on a potential CFO deal. Firms including Ardian, Carlyle AlpInvest, Ares Management Corp., Dawson Partners, Coller Capital and Blackstone Inc. also have marketed or sold CFOs. GIP manages more than $200 billion that’s invested in energy, digital and transportation infrastructure, as well as water and management. Among recent transactions, GIP and EQT AB agreed to buy AES Corp. for about $10.7 billion in cash.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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