Swiss Life Asset Managers on behalf of its funds has taken a minority equity stake in JFK International Airport’s New Terminal One development project.
For this investment Swiss Life Asset Managers joined JLC Infrastructure and the other consortium partners to fund the construction of a $9.5 billion, 2.4m square foot state-of-the art terminal.
JFK International Airport is the major international gateway serving the city of New York and the greater Tri State metropolitan region – one of the world’s most populous areas and a key financial centre. JFK is among the busiest airports in the United States.
JFK New Terminal One transformative project will delight travellers of one of the world’s most popular and important destinations and international gateways to and from the United States. The airport is owned and operated by the Port Authority of New York and New Jersey.
This is Swiss Life Asset Managers’ third investment in the aviation sector.
”Structural tailwinds will keep assisting airports for a long time to come. The economics of operating an airport has strong linkages to demographic factors such as growth in discretionary spending, along with growing global demand for mobility via access to air travel. This trend shows no sign of abating due to improved airline capacity utilisation, new aircraft orders, advances in technology and construction of modern airport facilities,” said Swiss Life AM in a press release.
Sinisha Ponzio, Head of Value Add Infrastructure at Swiss Life Asset Managers comments: “We are pleased to have signed this significant investment on behalf of our funds. The soon to be world-class terminal in one of the leading US airports represents an infrastructure asset with attractive long-term growth potential and fits very well into our fund’s investment strategy”.
