Pension investor APG in partnership with alternatives fund manager QIC has agreed to acquire a 36% interest in Brussels Airport.
The APG-QIC jointly led consortium further comprises of Swiss Life.
Upon completion, APG and QIC will both have a stake of 16.8% in Brussels Airport. Closing of the transaction is expected to take place over the coming months and is subject to approval by the regulator.
Patrick Kanters, Managing Director Global Real Assets at APG: “As a pension investor, we are continuously looking for attractive infrastructure investments worldwide that help us realize stable and long-term returns for ABP and other pension fund clients we work for.”
“This investment in Brussels Airport, on behalf of ABP, fits the core of our strategy as it represents an attractive opportunity to gain access to high quality, resilient infrastructure with promising long-term growth potential. Together with our partners, we are excited to be working alongside existing Brussels Airport shareholders Ontario Teacher’s Pension Plan and SFPI/FPIM over the long term.”
Ross Israel, Head of Global Infrastructure, QIC, said, “I’m delighted that our team has been successful in their bid to secure a high-quality core infrastructure asset on behalf of investors in the QIC Global Infrastructure Fund and for one of our long-standing institutional partners.”
“This addition to our portfolio provides our clients with important geographic and sector diversification and given its strategic nature, strong downside protection through market cycles. It also directly aligns with our strategy to use active management to build long-term value for our clients.”
Brussels Airport – Belgium’s largest – is a freehold perpetual airport located in the political capital of Europe, host to EU and NATO headquarters. It is a strong performing gateway airport, supported by a transparent and stable regulatory regime.
About Brussels Airport:
Brussels Airport – Belgium’s largest – is a freehold perpetual airport located in the political capital of Europe, host to EU and NATO headquarters. Brussels airport served over 211 passenger destinations and 25 million passengers in 2018. Brussels Airport is situated just 12 kilometers North-East of Brussels city center, at the heart of one of the most economically and politically stable areas in continental Europe. The catchment area extends over five countries (Belgium, the Netherlands, France, Luxembourg and Germany).
APG is the largest pension delivery organization in the Netherlands; its approximately 3,000 employees provide executive consultancy, asset management, pension administration, pension communication and employer services. APG performs these services on behalf of (pension) funds and employers in the sectors of education, government, construction, cleaning and window cleaning, housing associations, energy and utility companies, sheltered employment organizations, and medical specialists. As of 31 January 2019, APG manages approximately €482 billion (US$545 billion) in pension assets for the pension funds in these sectors. APG works for approximately 21,000 employers, providing the pension for one in five families in the Netherlands (about 4.5 million participants). APG has offices in Amsterdam, Heerlen, Brussels, New York and Hong Kong.
APG has been an active infrastructure investor since 2004, investing approximately €12.0 billion to date and managing 32 direct stakes in portfolio companies. APG’s investments include assets within energy and utilities, telecommunications, and transport infrastructure. APG’s Global Infrastructure team comprises 32 investment professionals.
For more information, visit: www.apg.nl.
QIC is a leading long-term specialist manager in alternatives offering infrastructure, real estate, private capital, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with US$60.3 billion (A$85.7 billion) in funds under management. QIC has over 1000 employees and serves more than 115 clients. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, Los Angeles, Cleveland, San Francisco, London and Copenhagen.
QIC is a long-term infrastructure investor with an established global platform, an active management approach and a proven, 12-year track record. The QIC Global Infrastructure team consists of 40+ employees worldwide, with recent expansions in the UK and U.S. offices. As of 31 December 2018, QIC Global Infrastructure manages US$7.78 billion(A$11.06 billion) across 13 global direct investments and has realized a further US$5.32 billion (A$7.2 billion) of investments for its clients. Its sector centric investment strategy deconstructs risk across sector value chains identifying relative value for investment. This drives a targeted origination approach, enabling the firm to build diversified portfolios for its clients, while protecting their capital. Since 2006, this investment strategy has delivered strong total returns for its clients.
For more information, visit: www.qic.com.