Swiss Life Asset Managers is investing in JFK International Airport’s New Terminal One development project alongside a consortium including Ferrovial, Carlyle, JLC Infrastructure and Ullico.
Swiss Life Asset Managers said its infrastructure equty platform has acquired a minority equity stake to help fund the construction of the $9.5bn (€8.8bn) terminal in the US.
The 2.4m sqft New Terminal One will be the largest international terminal at John F Kennedy International Airport.
Last month, investment firm Carlyle and the consortium announced completion of the development phase and provided notice to proceed on construction.
The New Terminal One – which will be built on the sites of the current Terminal 1, Terminal 2, and the former Terminal 3 – will be constructucted in phases, with full completion anticipated in approximately 2030.
Sinisha Ponzio, the head of value-add infrastructure at Swiss Life Asset Managers, said: “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.”
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 US.
The airport is owned and operated by the Port Authority of New York and New Jersey.
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