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Global Infrastructure Partners announces investment by CalPERS in Gatwick Airport

Direct News Source

18-Jun-2010 Global Infrastructure Partners (GIP), an independent $5.64 billion investment fund, announced today that it has reached agreement with the California Public Employees' Retirement System (CalPERS) for CalPERS to take a 12.7% shareholding in London Gatwick Airport (Gatwick) as part of GIP’s previously announced sell down of its Gatwick equity holding. GIP will continue to retain a controlling shareholding in Gatwick.

"This is an exciting time at Gatwick as we work on updating and modernizing the airport to transform the passenger experience. We are pleased that CalPERS has joined GIP and our existing partners as investors in Gatwick as we introduce improved operating procedures and performance enhancements throughout the airport."

Adebayo Ogunlesi, Chairman and Managing Partner of GIP commented: "We are delighted that CalPERS, one of the world's largest and most sophisticated public pension funds, is investing alongside GIP in Gatwick. We look forward to working with CalPERS over the coming years as partners in what we believe will be an outstanding investment for all stakeholders."

Michael McGhee, the GIP Partner leading the acquisition of Gatwick and now a Director at the airport, added: "This is an exciting time at Gatwick as we work on updating and modernizing the airport to transform the passenger experience. We are pleased that CalPERS has joined GIP and our existing partners as investors in Gatwick as we introduce improved operating procedures and performance enhancements throughout the airport."