Blackstone has agreed to acquire a 22% stake in AGS Airports, the Aberdeen, Glasgow, and Southampton airports operator, for GBP 235 million ($304 million). The stake is being purchased from AviAlliance, a Canadian pension fund PSP Investments subsidiary, which will retain the remaining 78% ownership.
AGS Airports, which handled over 11 million passengers in the past year, was acquired by PSP in 2024 from Ferrovial and Macquarie at an enterprise value of GBP 1.5 billion. The group invests in infrastructure to accommodate larger aircraft and expand route offerings.
Blackstone’s investment reflects a broader trend of private capital targeting UK transport infrastructure. In 2024, Ferrovial agreed to sell the majority of its stake in Heathrow Airport to Ardian and Saudi Arabia’s Public Investment Fund. Qatar’s Lesha Bank also recently acquired a stake in Edinburgh Airport through an infrastructure-focused investment fund.
Blackstone Infrastructure Strategies CEO Greg Blank stated that transportation remains a key focus area for the firm, citing continued global growth in leisure travel.
The transaction is subject to customary regulatory approvals.
