Calpers takes 12.7% stake in Gatwick airport

Calpers, the biggest US public pension fund, said late last week that it had committed up to US$155 million to Global Infrastructure Partners for a 12.7 percent equity stake in London Gatwick Airport, Reuters reported.

The commitment marks the first direct infrastructure investment foray by Calpers, the $200 billion California Public Employees' Retirement System.

The commitment covers the equity purchase price and provisions for bridge costs and future administrative expenses.
(Source:www.cargonewsasia.com)