Blackstone Infrastructure to Acquire Minority Stake in AGS Airports and Invest Behind the Growth of the United Kingdom

Blackstone’s investment, together with AviAlliance and PSP Investments, is intended to support the continued growth of the travel and tourism industries across the United Kingdom.

AviAlliance, one of the world’s leading airport investors and operators, will remain the majority shareholder in AGS with a 78% stake.

AGS handles over eleven million passengers annually and is the owner and operator of three critical UK airports: Glasgow and Aberdeen in Scotland and Southampton in England.

Commenting on the announcement, Greg Blank, Chief Executive Officer of Blackstone Infrastructure Strategies, said, “Transportation remains a key thematic focus area for Blackstone, given continued strong global growth in leisure travel. AGS has access to one of the most diversified airline mixes of any major UK airport, and the company’s recent capital improvements aimed at accommodating large aircraft pave the way for new routes and higher traffic growth. We look forward to partnering with AGS to support this important growth in the United Kingdom.”

Sandiren Curthan, Managing Director and Global Head of Infrastructure Investments, PSP Investments, said: “We are pleased to bring Blackstone as a minority shareholder in AGS. Both PSP and Blackstone are like-minded investors with long-term patient capital to support the development of AGS, which will benefit from the operational expertise of AviAlliance.”

Gerhard Schroeder, Managing Director of AviAlliance, said: “We look forward to developing a constructive and long-term partnership with Blackstone for the benefit of AGS, its management and employees, as well as all other stakeholders at the three airports. Together, we will further strengthen the position of AGS in both Scotland and the wider United Kingdom.”

Blackstone Infrastructure has a strong track record of investing in transportation infrastructure, including through Mundys, the world’s largest toll road platform and manager of airports Roma Fiumicino and Ciampino, Signature Aviation, the world’s largest network of private aviation terminals, and ASPI, Europe’s largest toll road platform.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram. 

About AviAlliance
AviAlliance, a wholly-owned subsidiary of PSP Investments, is one of the world's leading private industrial airport investors and operators. The company participates in airport privatizations worldwide and acquires interests in airports. AviAlliance has an international airport network, currently managing stakes in the airports of Aberdeen, Athens, Düsseldorf, Glasgow, Hamburg, San Juan (Puerto Rico) and Southampton. In 2024, these airports together handled more than 90 million passengers. Visit avialliance.com for more information or follow us on LinkedIn.

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada's largest pension investors with C$264.9 billion of net assets under management as of 31 March 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on LinkedIn. 

About AGS Airports
AGS Airports owns and operates Aberdeen, Glasgow and Southampton airports. These airports provide essential domestic and international connectivity to three important economic and population centres across the UK and serve more than 11 million passengers annually. The airports contribute approximately £2 billion in Gross Value Added to the UK economy per year and support more than 30,000 jobs across a sophisticated supply chain. Visit agsairports.co.uk for more information or follow us on LinkedIn.