BlackRock, the world’s largest asset manager with $11 trillion in assets, has announced a landmark $22.8 billion deal to acquire a 90% stake in Panama Ports Company from CK Hutchison’s subsidiary, Hutchison Port Holdings. The acquisition includes key assets at both ends of the Panama Canal—Cristobal Port on the Atlantic and Balboa Port on the Pacific—as well as a controlling interest in 43 additional ports across 23 countries, covering a total of 199 berths.
BlackRock will collaborate with Terminal Investment Limited (TiL) and its subsidiary, Global Infrastructure Partners (GIP), to operate this extensive port network. The deal comes amid ongoing concerns in the U.S. regarding foreign influence—particularly from China—over critical global infrastructure like the Panama Canal. BlackRock has already briefed both the Trump administration and U.S. Congress, signaling the strategic alignment of the acquisition with U.S. interests.
BlackRock’s CEO Larry Fink highlighted the strategic importance of the deal, stating, “This agreement is a powerful illustration of BlackRock and GIP’s combined platform and our ability to deliver differentiated investments for clients.” He emphasized that the acquisition would enhance global growth by controlling key trade routes.
Frank Sixt, co-managing director of CK Hutchison, said the deal followed a “rapid, discrete but competitive process,” adding that it would deliver over $19 billion in cash proceeds to the company.
This move underscores BlackRock’s growing influence in global infrastructure, positioning the firm as a dominant player in the rapidly evolving port and logistics sector.
