| One of the world's biggest sovereign wealth funds is part of a consortium that is plotting a bid for London City Airport, which has been valued at 2bn, says an article in the Telegraph. Wren House Infrastructure Management, which is an investment vehicle owned by the Kuwait Investment Authority; Canadian giant Ontario Teachers' Pension Plan; and investment firm Hermes have teamed-up to make an offer for the airport, according to sources in the infrastructure sector. The KIA is the world's fifth largest sovereign wealth fund with some 592bn in assets.
Oaktree Capital owns the remaining 25pc of the airport and has agreed to the sale. London-based Wren House was set up in 2013 to facilitate direct infrastructure investment by Kuwait's sovereign wealth fund. Kuwait was part of a consortium that unsuccessfully attempted a 5bn takeover of water utility Severn Trent two years ago. OTPP, which manages about C154.5bn in assets, is one of Canada's largest investment houses and is a major player in British infrastructure...............................................Full Article: Source
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