Macquarie completes acquisition of Birmingham and Bristol airports stakes

Macquarie Asset Management (Macquarie), via Macquarie European Infrastructure Fund 7 on behalf of long-term institutional investors including pension funds and insurance companies, and co-investors including LGPS Central Limited, has reached financial close on the acquisition of a 55 per cent stake in Bristol Airport and a 26.5 per cent stake in Birmingham Airport.

As part of the acquisition, Macquarie has partnered with LGPS Central Limited, which is investing on behalf of two of its partner funds, West Midlands Pension Fund and Cheshire Pension Fund, as co-investors into the portfolio of investments in Bristol, Birmingham, and London City Airports.

In June, Macquarie announced it had agreed to acquire stakes in Bristol, Birmingham, and London City Airports from Ontario Teachers’ Pension Plan.

Bristol Airport is the largest airport in the South-West of England and has historically been one of the fastest growing regional airports in the UK. The airport serves over 10 million passengers a year and operates routes to more than 115 destinations, contributing approximately £2 billion to the South-West and South Wales economies per annum.¹

Birmingham Airport is the UK’s 7th largest airport, handling approximately 14 million passengers a year and supporting an estimated 30,900 jobs in the region.² Situated in the heart of the country’s Midlands, the airport is accessible to over half of the population of England and Wales within a 2-hour rail or road journey, and is home to around 35 carriers, serving around 140 direct international routes across 41 countries.

In October, Macquarie announced it had acquired an additional 50 per cent stake in London City Airport from Alberta Investment Management Corporation and OMERS, taking its total ownership of the airport to 75 per cent.

Macquarie Group has operated in the UK for more than 35 years. Today, Macquarie is a significant investor in the UK, having invested and arranged more than £60 billion in UK infrastructure since 1999. In October 2024, Macquarie announced its intentions to invest a further £20 billion in UK infrastructure.

1. About Bristol Airport – The story so far
2. Birmingham Airport Holdings – Annual Report and Consolidated Financial Statements for Year Ended 31 March 2025