Alberta Investment Management Corporation, on behalf of its clients OMERS, Ontario Teachers´ Pension Plan and Wren House Infrastructure Management Limited, the infrastructure investing arm of the Kuwait Investment Authority, (each a consortium member and collectively the consortium) has signed an agreement to acquire the company that owns and operates London City Airport, the consortium said.
Financial details of the transaction have not been disclosed.
London City Airport is located in the Royal Docks, in the London borough of Newham. The airport represents a unique opportunity to invest in an integral part of the London airport system and offers a service proposition based around location, convenience, speed and customer service.
AIMCo is a Canada-based institutional investment manager with net assets of CAD90 billion.
OPM (Borealis and OMERS Private Equity) invests globally in infrastructure and private equity assets on behalf of the OMERS pension plan.
OTPP is a single-profession pension plan in Canada. An independent organization since 1990, OTPP invests and administers the pensions of more than 311,000 active and retired teachers in the province of Ontario. As of December 31, 2014, OTPP had net assets of CAD154.5 billion, invested across a mix of equities (public and private), bonds, commodities, real assets (real estate and infrastructure) and absolute return strategies.
Wren House was set up in 2013 as the global direct infrastructure investment vehicle of the Kuwait Investment Authority, with an initial commitment of USD5 billion.