Macquarie Asset Management has announced an agreement to acquire stakes in three UK airports: Bristol, Birmingham, and London City. This acquisition is facilitated through the Macquarie European Infrastructure Fund 7 on behalf of long-term institutional investors, including pension funds and insurance companies.
The deal involves purchasing a 55% stake in Bristol Airport, which serves around 10 million passengers annually and contributes approximately £2 billion to the regional economy. A 26.5% stake will be acquired in Birmingham Airport, the UK's seventh-largest airport, handling about 13 million passengers each year. Additionally, Macquarie will obtain a 25% stake in London City Airport, which serves over 3.5 million passengers annually.
Gordon Parsons, Senior Managing Director at Macquarie Asset Management in EMEA, stated: "As a leading investor in airports around the world, including the UK, we understand their importance to local communities and for economic growth. Collectively, Birmingham, Bristol and London City airports serve over 25 million passengers each year and are a valued home for leading regional and global airlines."
Macquarie has been involved in airport investments for over two decades across various countries such as Australia, Belgium, Italy, Denmark, Ecuador, and Colombia. In recent years, it divested from AGS Airports after investing significantly during its ownership.
The financial close for the London City Airport acquisition coincided with the signing of the agreement. The acquisitions of Bristol and Birmingham airport stakes are expected to conclude by Q4 2025 following regulatory approvals. The transaction terms remain undisclosed.
Macquarie Group has been active in the UK market for more than 35 years and plans further investments totaling £20 billion in UK infrastructure.