Ex-World Bank president, Kim, joins Ogunlesi’s investment firm

Adebayo Ogunlesi

Former president of the World Bank, Jim Kim, who resigned on Monday, is set to join investment firm, Global Infrastructure Partners (GIP), chaired by Adebayo Ogunlesi.

Mr Kim will join the firm in February, Bloomberg reports.

Kim had said on Monday that he would join an unnamed investment firm.

GIP focuses on projects in the energy, transport, water and waste industries, with investments in developed and select emerging countries.

Mr Ogunlesi acts as chairman and partner at the firm.

The firm said on Tuesday that Kim will become vice chairman and partner, according to Bloomberg.

“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,” Ogunlesi said in a statement on Tuesday.

He added that Kim’s “broad knowledge base along with his first-hand, comprehensive experience of working with governments and institutions around the world will provide very valuable insights.”

Kim resigned more than three years ahead of schedule.

He began his second five-year term at the bank on July 1, 2017, and helped the lender win support from member countries in April for a $13 billion capital increase, after the U.S. dropped proposals to limit the bank’s resources.

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.