Macquarie Asset Management has announced the acquisition of stakes in Bristol, Birmingham, and London City Airports through the Macquarie European Infrastructure Fund 7.
This acquisition from the Ontario Teachers’ Pension Plan is being made on behalf of institutional investors such as pension funds and insurance companies.
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The financial terms of the acquisitions have not been disclosed.
The deal involves a 55% stake in Bristol Airport, the largest airport in the South-West of England.
This airport serves approximately ten million passengers annually, connecting to 115 destinations and contributing around £2bn ($2.68bn) to the regional economy each year.
Additionally, Macquarie will acquire a 26.5% stake in Birmingham Airport, the seventh largest airport in the UK.
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By GlobalDataIt handles about 13 million passengers per year and is accessible to more than half of the population of England and Wales within a two-hour journey.
Birmingham Airport supports around 30,000 jobs and operates more than 140 direct international routes.
Macquarie will also take a 25% stake in London City Airport, which serves more than 3.5 million passengers annually and provides transport links to key financial districts in London.
The airport employs more than 2,000 staff and offers over 30 leisure and business destinations across the UK and Europe.
Macquarie Asset Management EMEA senior managing director Gordon Parsons said: “As a leading investor in airports around the world, including the UK, we understand their importance to local communities and for economic growth.
“Collectively, Birmingham, Bristol, and London City airports serve over 25 million passengers each year and are a valued home for leading regional and global airlines.”
Macquarie said it aimed to support the airports in the long term, aiming to expand their route networks, improve the passenger experience, and collaborate closely with management teams and stakeholders to execute the airports’ sustainability strategies.
The acquisition of London City Airport has already reached financial close, while the transactions for Bristol and Birmingham airports are anticipated to close by the fourth quarter of 2025, pending regulatory approvals.
In August 2024, London City Airport received approval to raise its annual passenger limit to nine million by adding three additional midweek flights each day.
