The Universities Superannuation Scheme (USS) is to acquire a 49.9% non-controlling stake in The Airline Group, which is a 41.9% shareholder in National Air Traffic Services (NATS).
The transaction was arranged by USS Investment Management (USSIM), a wholly-owned subsidiary of the university pension fund and its principal investment manager and advisor, which will manage the investment on USS’s behalf.
The investment will be managed by USSIM’s infrastructure team, which substantially reduces the overall cost to USS of investing in infrastructure.
Mike Powell, head of private markets at USSIM, said: “This is another significant investment for the scheme and its members in a high quality infrastructure organisation.
“The growth of our infrastructure portfolio by our in-house team is a compelling model for the trustee board in meeting its long-term commitments to members.”