USS makes £392 million investment in Heathrow airport

AirportThe Universities Superannuation Scheme (USS) has invested £392 million (€459.9 million) in Heathrow, the UK’s largest airport. USS, one of the biggest pension schemes in the UK, has reached an unconditional agreement with Ferrovial to acquire 8.65% of FGP Topco, the holding company which owns Heathrow Airport Holdings. USS Investment Management, a wholly owned subsidiary of USS and its principal investment manager and advisor, arranged the transaction. Roger Gray, chief executive officer, USS Investment Management, says: “We believe that investment in UK infrastructure is a win-win; promoting economic growth and jobs whilst providing attractive investments for the trustee board in meeting its commitments to members.“ USS represents academic and related staff in the higher education sector. A survey released by Invesco Real Estate among European institutional investors suggests that a focus on risk has seen more investors choose direct real estate investment in their domestic markets, while funds play a bigger role beyond home territories. Covering 83 pension funds with more than €100 billion in combined property investments and total assets of €1.29 trillion, the report says low risk appetite has propelled popularity of core real estate assets. ©2013 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.