CIP transfers Vantage into new perpetual investment fund to support long-term growth
CORSAIR Infrastructure Partners, CIP, the global infrastructure investment business of Corsair Capital, on Wednesday, February 6 announced that a new fund established and managed by CIP has closed on the acquisition of 100% of Vantage Airport Group (“Vantage”) from Gateway Infrastructure Investments (“Gateway”), another CIP-managed fund.
The new CIP fund is a perpetual partnership with no fixed duration, capitalized by high-quality long-term institutional investors. The transaction provides Vantage with a strong and stable ownership structure, as well as access to capital to pursue a full pipeline of opportunities in developing, managing, and investing in airports and related infrastructure worldwide. The acquisition also creates an attractive realization event for Gateway, which has owned Vantage since 2008.
Hari R. Rajan, the managing director of Corsair, head of CIP, and Lead director of Vantage said: “We are excited to have created a new perpetual investment vehicle to hold Vantage. While there is no change in Vantage’s status as a wholly-owned CIP portfolio company, the new fund will provide Vantage with superior long-term shareholder alignment, and will give our investors a platform to deploy significant additional capital to support Vantage projects. We look forward to our continuing partnership with the talented team at Vantage as it plays a market-leading role in the transformation of the airport sector in the U.S. and beyond.”
George H. Casey, the chairman and chief executive officer of Vantage said: “This new fund structure will give us the flexibility and firepower to pursue any new business opportunities that meet our strategic growth plans. We are proud of our ongoing relationship with CIP and our achievements to-date, and look forward, with CIP’s support, to continue applying our three pillars of People, Performance, and Place to take our business to the next level.”
– Feb. 8, 2019 @ 15:25 GMT |