GFL's partial monetization of GIP stake at $4.25B valuation delivers significant ROI while maintaining future upside potential. The announced recapitalization of Green Infrastructure Partners (GIP) represents a significant financial win for GFL Environmental. The transaction values GIP at an enterprise value of $4.25 billion, with GFL set to receive $200 million in cash while retaining a 30.1% stake valued at approximately $895 million. This deal effectively validates GFL's investment thesis and capital allocation strategy. GFL's initial $250 million investment in 2022 has grown to approximately $1.1 billion in just over three years—representing a remarkable 340% return. The partial monetization allows GFL to realize gains while maintaining substantial exposure to GIP's future growth potential. The structure of this transaction is particularly noteworthy for its tax efficiency.