GLOBAL - The C$122bn Caisse de dépôt et placement du Québec has announced it will invest up to £1.2bn (C$2.4) as part of the consortium which recently purchased BAA.
It was announced earlier this month the Ferrovial-led consortium would buy the world’s largest airport operator for £10.1bn.
Henri-Paul Rousseau, CEO of Caisse, said: “The Caisse will hold 28.1% of the consortium’s shares. Its investment in this project will be no more than £1.2bn.”
Rosseau said the investment was part of the fund’s strategy to increase its allocation to alternative assets like real estate, private equity and infrastructure rather than stocks and bonds in order to obtain sustained returns for depositors.
BAA is world's largest operator of airports, and had revenues of £2.2bn in its latest financial year ended March 31.
Apart from operating seven airports in the UK, BAA also has management mandates for - and equity stakes in - 11 airports in Australia, Hungary and United States.
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