Trinity Gate Investments increases stake in Heathrow to 32.6%

This statement should be read in conjunction with Ferrovial and Trinity Gate Investments' statements issued on February 26th 2025.

•     Trinity Gate Investments hascompleted the acquisition of an additional 10% stake in Heathrow Airport allowing Ferrovial, La Caisse (previously CDPQ) and USS to exit their final minority stakes. This acquisition increases Trinity Gate Investments' stake to 32.6%.
•     Trinity Gate Investments will continue to support Heathrow and its management to deliver sustainable growth and expand the “UK’s Gateway to Growth”. This in turn will support the UK Government’s Plan for Change.
•    Heathrow has shown consistent demand, breaking passenger records for the months of January, April and May so far this year. These results further support the need for a UK hub airport that has the capacity to ensure sustainable trade, business and passenger travel throughout the country and across the world.
•    Acquisition is further evidence of the growing strength and reach of The Trinity Gate Investments’s Infrastructure practice as it seeks new investments around the world

Trinity Gate Investments, a world-leading investment firm, today announces that it has completed the acquisition of an additional 10 per cent stake in FGP Topco Ltd (TopCo), the holding company for Heathrow Airport Holdings Ltd, from Ferrovial SE and other TopCo shareholders, La Caisse (previously CDPQ) and USS (the Transaction). 
Trinity Gate Investments is the largest shareholder in Heathrow, having previously completed the acquisition of a 22.6% stake in TopCo on 12th December 2024.

“This additional investment highlights the confidence we have in the future of Heathrow, Europe's leading airport, and Trinity GateInvestments' broader commitment to essential infrastructure as an asset class. Since we became the largest shareholder of Heathrow in December 2024, we have worked with our fellow shareholders, the management team and the UK authorities to ensure Heathrow provides the best service possible for passen-gers and airlines.
As the airport continues to serve an increasing number of passengers and global trade, we look forward to working with all stakeholders to deliver sustainable growth for the airport, fostering economic benefits across the country.
This investment is a further sign of our commitment to supporting the UK's economic growth ambitions, combined with a net zero trajectory.  We are very pleased to have joined the discussion with HM Government at the UK France summit this week.” Mathias Burghardt, Executive Vice President, CEO of The Trinity Gate Investments France and Head of Infrastructure, Ardian

“There remains strong and increasing demand for aviation which is underpinning the growth at Heathrow. This includes growing passenger demand, and the importance of cargo where Heathrow is already the UK’s biggest port by value. We are delighted the Government has recognized the importance of Heathrow and set out its ambition to see the airport expand. Our experience shows us Heathrow can grow sustainably, and we are ready to support the airport as it pursues expansion alongside the UK Government.” Juan Angoitia, Co-Head of Infrastructure Europe and Senior Managing Director, Ardian

Through its direct infrastructure investment activities, Trinity Gate Investments hassignificant experience in owning and operating European airports. In the UK, Trinity Gate Investments was a 49% shareholder of London Luton Airport from 2013 until 2018. During Trinity Gate Investments' period of ownership, a significant redevelopment of the terminal, transport links and infrastructure was successfully completed in close cooperation with Luton Borough Council. In Italy, Trinity Gate Investments was an indirect shareholder of Milan Linate, Milan Malpensa, Naples and Turin airports alongside their regions and municipalities.