09:41 AM EST, 03/04/2025 (MT Newswires) -- (Update with BlackRock's ( BLK ) reply to a request for comment.)

BlackRock's ( BLK ) Global Infrastructure Partners is close to raising $25 billion for its latest fund, Bloomberg reported Tuesday, citing people familiar with the matter.

The GIP Fund V is expected to hit its initial $25 billion target by the final close, which is scheduled for the coming weeks, the report said.

BlackRock's ( BLK ) latest fund would represent one of the largest in the infrastructure industry, rivaling a similar fund of Brookfield Asset Management (BAM), which raised $28 billion in December 2023, according to the report.

BlackRock ( BLK ) declined to comment to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 948.46, Change: -18.01, Percent Change: -1.86