Macquarie Infrastructure and Real Assets (MIRA) has acquired the United Kingdom’s Farnborough Airport from a consortium of private investors. The purchase was made on behalf of Macquarie’s European Infrastructure Fund 6 (MEIF6) for an undisclosed amount.
In June, MIRA announced the final closing of MEIF6 with €6 billion ($7 billion) in capital commitments, exceeding its initial target of €5 billion ($6 billion). The fund is targeting a pipeline of European infrastructure assets, including utilities, transportation, communications infrastructure and renewables.
“The significant investment that has occurred at Farnborough Airport over the past two decades under the previous shareholders has been transformative,” noted Brandon O’Reilly, CEO of Farnborough Airport. “With a number of development projects already under way, we are excited to partner with Macquarie to further develop our offering to the business aviation market.”
Opened in 1908, Farnborough Airport is known as the birthplace of aviation in the United Kingdom. The U.K.’s first airfield and the site of the country’s first powered flight, the airport is also internationally known as the site of the Farnborough International Airshow, one of the world’s premier events for the aviation industry.
In addition, Farnborough is the only dedicated business aviation airport in the United Kingdom and was the world’s first dedicated business aviation airport to receive carbon neutral status from Airports Council International.
The airport handles more than 30,000 air traffic movements each year.
“In addition to holding an important place in U.K. aviation history, the airport is known for its high-quality offering to customers,” said Leigh Harrison, head of MIRA EMEA, in a statement. “Drawing on our extensive experience managing airport infrastructure around the world, we look forward to partnering with Farnborough Airport to ensure it remains an important contributor to the local economy and a business aviation gateway to London and the South East.”
Macquarie is one of the largest investors in the United Kingdom, having invested and arranged more than £40 billion ($49 billion) in infrastructure projects since 2005. MIRA-managed funds are invested in 12 commercial airports across Europe and Australia, and 68 FBO facilities across the United States. Approximately 72 million passengers use MIRA-managed airports each year.
