US Public Pension Fund Acquires Stake in Gatwick Airport

22 June 2010 (Last Updated June 22nd, 2010 18:30)

The California Public Employees Retirement System (CalPERS) in the US has acquired a 12.7% equity interest in London Gatwick Airport from Global Infrastructure Partners. CalPERS has committed up to £106m ($155m) under the acquisition, which is part of its initiative to invest in major inf

The California Public Employees Retirement System (CalPERS) in the US has acquired a 12.7% equity interest in London Gatwick Airport from Global Infrastructure Partners.

CalPERS has committed up to £106m ($155m) under the acquisition, which is part of its initiative to invest in major infrastructure projects.

CalPERS' acquisition will cover the equity purchase price and provisions for bridge costs and future administrative expenses.

Gatwick Airport handles nearly 33 million passengers each year and is the UK's second most active airport and one of the busiest in Europe.