A former president of the World Bank, Jim Kim, is joining investment firm Global Infrastructure Partners (GIP), chaired by a Nigerian, Adebayo Ogunlesi.
Mr. Kim, had in a statement on Monday resigned his appointment of the UN top job in other to join the firm.
According to the former UN Secretary General, in an email, “The opportunity to join the private sector was unexpected, but I’ve concluded that this is the path through which I will be able to make the largest impact on major global issues like climate change and the infrastructure deficit in emerging markets.”
GIP focuses on projects in the energy, transport, water and waste industries, with investments in developed and select emerging countries.
Mr. Kim will become the vice chairman of the firm which has Nigerian-born investor, Ogunlesi, as its chairman and partner at the firm.
In a statement announcing the appointment on Tuesday, Ogunlesi said “The leadership and vision that Dr. Kim brought to the World Bank as well as his prior roles as president of Dartmouth College and director of the World Health Organization’s HIV/AIDS department speak for themselves, broad knowledge base along with his first-hand, comprehensive experience of working with governments and institutions around the world will provide very valuable insights.”
GIP, based in New York, manages more than $40 billion in assets from ports and airports to a vast wind farm in the North Sea. In 2018, the firm teamed up with investors to acquire renewable-power specialist Equis Energy for $5 billion.
The firm is also an owner of London’s Gatwick Airport, and Brookfield Asset Management Inc. having amassed two of the largest infrastructure funds on record.
