clear

Creating new perspectives since 2009

Kuwait part of consortium hoping to buy London City Airport

August 21, 2015 at 11:07 am

A sovereign Kuwaiti fund has joined a large international investment consortium in a bid to buy London’s City Airport which is valued at £2 billion.

Wren Infrastructure Management, a London-based division of the Kuwait Investment Authority (KIA), Canada’s Ontario Teachers’ Pension Plan, and investment fund manager Hermes have joined forces to lodge a bid for the London City Airport, according to quotes from sources in the infrastructure sector in the British newspaper the Telegraph.

KIA is one of the world’s largest sovereign wealth funds with some $592 billion in assets.

The consortium is competing with a group led by the branch of financial firm Macquarie which specialises in infrastructure investments, and who are believed to have lined up a rival bid for the airport.

Global Infrastructure Partners (GIP), which owns 75 per cent of London City Airport, and Oaktree Capital, which owns the remaining 25 per cent of the airport have both agreed to the sale.