USS makes £392 million investment in Heathrow airport

The 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

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