BAKU (Reuters) -Azerbaijan’s sovereign wealth fund SOFAZ said on Thursday it would invest 50 million pounds ($67 million) in London’s Gatwick airport, one of the largest infrastructure deals the fund has pursued in Europe.
Gatwick is the UK’s second-busiest airport, serving more than 40 million passengers annually. SOFAZ said it partnered with U.S.-based Global Infrastructure Partners (GIP), a part of BlackRock, in the investment deal.
“This landmark transaction is a clear signal of our strategy to partner with world-class institutions on assets that combine resilience, scale, and long-term value,” said Israfil Mammadov, SOFAZ’s chief executive officer.
“Gatwick Airport is not only a critical gateway for Europe but also a strong, sustainable investment that reflects SOFAZ’s global vision.”
VINCI Airports acquired a 50.1% stake in Gatwick from GIP in 2019.
Founded in 1999, SOFAZ has expanded its portfolio of investments in Europe in recent years, including the purchase in July of a 49% stake in Italian solar plants owned by U.S. renewable energy company Enfinity Global.
SOFAZ’s total assets as of end-June amounted to $66.5 billion, according to official data.
($1 = 0.7480 pounds)
(Reporting by Nailia Bagirova in Baku; Writing by Lucy Papachristou in Tbilisi; Editing by Guy Faulconbridge)
