AMP Capital increases stake in Australia Pacific Airports

The Australian investment manager paid A$157 million ($164 million) for the additional stake in APAC, which owns Australia's Melbourne and Launceston Airports. AMP has held a stake in Melbourne Airport since 1997, when the airport was privatised, and in Launceston Airport since 1998.

"Melbourne Airport is one of the best performing airports in the world and it serves around 29 million domestic and international passengers per annum," said Paul Foster, AMP's head of infrastructure for Australia and New Zealand. "The additional investment has been funded by a broad range of our Australian superannuation fund clients who had strong appetite to increase their exposure to a high quality core infrastructure asset which has delivered strong returns since inception."

This isn't AMP's only foray into the aviation sector; in 2012, it took a 49% interest in Newcastle International Airport.

Another recent airport investment took place in January when Australia's Industry Funds Management (IFM) acquired a 35.5% stake in Manchester Airports Group (MAG), one of the largest airport operators in the UK. The investment was part of the MAG's GBP1.5 billion ($2.4 billion) purchase of London Stansted Airport.

China Investment Corporation (CIC), meanwhile, has also taken a shine to UK aviation, acquiring a 10% stake in Heathrow Airport Holdings from Spanish builder Ferrovial and other investors for GBP450 million last November.

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• Topics
• Investments
• Infrastructure
• Australia
• Infrastructure
• AMP Capital Investors