Dr. Jonathan Gifford, Director of the Center for Infrastructure Public-Private Partnership Policy, was quoted in FundFire‘s coverage of the Minnesota Public Utilities Commission’s approval of a BlackRock-led acquisition of Allete, parent company of Minnesota Power. Under the $6.2 billion deal, BlackRock’s Global Infrastructure Partners will take a 60% stake, with the Canada Pension Plan Investment Board holding the remaining interest. Dr. Gifford called the move a “new frontier” in utility financing, emphasizing the need for innovative capital strategies to meet private equity-level return targets.
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