Partners Group has sold its stake in the Billy Bishop Toronto City Airport (BBTCA) passenger terminal to its investment consortium partner, institutional investors advised by JP Morgan Asset Management, for an undisclosed sum.
In January 2015, Partners Group invested in the passenger terminal as part of Nieuport Aviation, a consortium including InstarAGF Asset Management, Kilmer Van Nostrand, a vehicle of Canada’s Tanenbaum property-investment family, and institutional investors advised by JP Morgan.
Todd Bright, a partner and head of private infrastructure Americas at Partners Group, said: “We are proud to have supported the creation and growth of Nieuport Aviation together with our consortium partners and believe that as entrepreneurial owners, we have added real passenger value by enhancing the services offered in the BBTCA terminal.
“With the completion of the terminal upgrade project, we concluded a major value creation program and therefore felt the time was right to divest our stake on behalf of our clients.”
