The Public Sector Pension Investment Board has acquired a 40 per cent interest in Aerostar Airport Holdings, the operator of the Luis Muñoz Marín International Airport in San Juan, Puerto Rico.
The interest was acquired from funds managed by Oaktree Capital Management. Mexican airport group Grupo Aeroportuario del Sureste (ASUR), which is already a 50 per cent shareholder in Aerostar, acquired an additional 10 per cent. The combined investment is US$430 million.
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“This acquisition is an excellent fit with PSP Investments’ long-term investment philosophy and leverages the capabilities of AviAlliance, our airport platform,” said Patrick Charbonneau, managing director of infrastructure investments at PSP Investments, in a news release.
“We look forward to complementing ASUR’s expertise with that of AviAlliance, to develop a constructive and lasting partnership dedicated to delivering best-in-class operations at San Juan Airport.”
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