CalPERS buys 12.7% stake in Gatwick Airport

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US - The California Public Employees' Retirement System (CalPERS) has paid £106m (US$155m) to acquire a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners (GIP).

GIP, the US$5.6bn fund founded by Credit Suisse and General Electric, led the £1.5bn (US$2.2bn) purchase of Gatwick from BAA in December 2009. The CalPERS commitment covers the equity purchase pric...

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