Print
E-mail
REGIONS
CHANNELS
PRODUCTS
INDICES 
Europe / Airports
Gatwick stake for CalPERS
By Doug Newhouse, 21 June 2010
The California Public Employees' Retirement System (CalPERS) has committed up to £106m ($155m) to acquire a 12.7% equity interest in London Gatwick Airport from Global Infrastructure Partners (GIP).
GIP led the £1.5bn ($2.2bn) purchase of Gatwick from BAA in December 2009 and the CalPERS commitment covers the equity purchase price and provisions for bridging costs and future administrative expenses.
"We are pleased to acquire an interest in Gatwick for our infrastructure programme," said Rob Feckner, CalPERS Board President. George Diehr, Investment Committee Chair added: "We are looking for opportunities to invest directly in high-quality infrastructure assets. We see it as a good fit for our burgeoning infrastructure programme."
GIP is a $5.6bn fund founded by Credit Suisse and General Electric with offices in New York City, New York; Stamford, Connecticut; London, Hong Kong, and Sydney. It invests in infrastructure in OECD countries and selected emerging market countries.
With approximately $200bn in assets, CalPERS is the largest US public pension fund. It administers retirement benefits for more than 1.6m active and retired state, public school, and local public agency employees and their families.
By Doug Newhouse, 21 June 2010
The California Public Employees' Retirement System (CalPERS) has committed up to £106m ($155m) to acquire a 12.7% equity interest in London Gatwick Airport from Global Infrastructure Partners (GIP).
GIP led the £1.5bn ($2.2bn) purchase of Gatwick from BAA in December 2009 and the CalPERS commitment covers the equity purchase price and provisions for bridging costs and future administrative expenses.
"We are pleased to acquire an interest in Gatwick for our infrastructure programme," said Rob Feckner, CalPERS Board President. George Diehr, Investment Committee Chair added: "We are looking for opportunities to invest directly in high-quality infrastructure assets. We see it as a good fit for our burgeoning infrastructure programme."
GIP is a $5.6bn fund founded by Credit Suisse and General Electric with offices in New York City, New York; Stamford, Connecticut; London, Hong Kong, and Sydney. It invests in infrastructure in OECD countries and selected emerging market countries.
With approximately $200bn in assets, CalPERS is the largest US public pension fund. It administers retirement benefits for more than 1.6m active and retired state, public school, and local public agency employees and their families.
OLDER NEWS IN THIS REGION
• MAp shows good progress
(20 June 2010)
• ACI's 'Best Airport Awards' (20 June 2010)
• Airlines 'biting the hand that feeds them...' (18 June 2010)
• Gatwick Airport traffic falls by -4.1% (18 June 2010)
• Body scanners welcomed - but who pays? (18 June 2010)
• DFDS to acquire Norfolkline (18 June 2010)
• MAG appoints Cornish (17 June 2010)
• UK Government to address airport queues (16 June 2010)
• Aldeasa supports the reds at Madrid Barajas (16 June 2010)
• Overseas visitors top London spending (15 June 2010)
• ACI's 'Best Airport Awards' (20 June 2010)
• Airlines 'biting the hand that feeds them...' (18 June 2010)
• Gatwick Airport traffic falls by -4.1% (18 June 2010)
• Body scanners welcomed - but who pays? (18 June 2010)
• DFDS to acquire Norfolkline (18 June 2010)
• MAG appoints Cornish (17 June 2010)
• UK Government to address airport queues (16 June 2010)
• Aldeasa supports the reds at Madrid Barajas (16 June 2010)
• Overseas visitors top London spending (15 June 2010)
|
|
