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Calpers to take 12.7 per cent stake in Gatwick Airport

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Global Infrastructure Partners, an independent investment fund, has reached agreement with the California Public Employees’ Retirement System for it to take a 12.7 per cent shareholding in London Gatwick Airport as part of GIP’s previously announced sell down of its Gatwick equity holding.

GIP will continue to retain a controlling shareholding in Gatwick.

Adebayo Ogunlesi, chairman and managing partner of GIP, says: “We are delighted that Calpers, one of the world’s largest and most sophisticated public pension funds, is investing alongside GIP in Gatwick. We look forward to working with Calpers over the coming years as partners in what we believe will be an outstanding investment for all stakeholders.”

Michael McGhee, the GIP partner leading the acquisition of Gatwick and now a director at the airport, adds: “This is an exciting time at Gatwick as we work on updating and modernizing the airport to transform the passenger experience. We are pleased that Calpers has joined GIP and our existing partners as investors in Gatwick as we introduce improved operating procedures and performance enhancements throughout the airport.”

GIP is an independent infrastructure fund that invests worldwide in infrastructure assets and businesses in both OECD and selected emerging market countries. GIP has offices in New York and London with an affiliate in Sydney and portfolio business operations headquarters in Stamford, Connecticut.

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