I was in the salon yesterday when I got this news and my eyes lit up…this is the kinda news I love to hear. I just had to blog about it, not because it is the latest gist but because I love to identify with and celebrate SUCCESS. I’m going to buy up companies (don’t look at me now…in the future you’ll remember this story). I’m sure Mr. Ogunlesi said stuff like this some years back and here it is.
It really matters how you see and how far you can see. Don’t be myopic with life, see beyond your horizon and someday you’ll be big enough to acquire as much wealth as possible. I’m greatly inspired, hence the reason for this post. I hope it inspires you too.
Up until February 2010, very few people had heard about Adebayo Ogunlesi. The Nigerian-born investment banker and money manager made international headlines when he led the acquisition of London’s Gatwick Airport from the British Airports Authority in a recorded £1.51 billion deal. The acquisition instantly propelled Ogunlesi, 58, into the global spotlight and earned him a place in history as the man who acquired London’s second largest international airport.
Adebayo Ogunlesi is the chairman and managing partner of Global Infrastructure Partners (GIP), a New York-based independent private equity fund focused primarily on infrastructural investments, with over $5.6 billion under management. The purchase of Gatwick Airport may have grabbed all the headlines, but GIP has some other noteworthy assets in its portfolio including a 75% stake in London City Airport, and Biffa Limited, a UK based waste management company.
Gatwick suffered deep losses over the years, and all the turnaround efforts made by its former managers, the British Airport Authority (BAA), failed to halt the downward spiral. In the first nine months of 2009, the airport reportedly recorded a pre-tax loss of over £780 million, prompting the British government to actively shop for buyers. BAA also reportedly lost £225 million on Gatwick after it was compelled to sell the airport by the Competition Commission.
While Ogunlesi’s acquisition might have brought him international acclaim and made him something of an overnight private equity rock star, pundits kept their fingers crossed to see what he will make out of the ailing airport. But Ogunlesi believed strongly in the future of the airport so much that he invested some of his own personal funds into the acquisition. He promised to make Gatwick a truly first class international airline and substantially improve the customer experience. Judging from his antecedents, he is likely to deliver on those promises.
Culled from:Ventures Africa
Have a great week ahead.