Macquarie completes acquisition of Birmingham and Bristol airports stakes

On November 3, 2025, Macquarie Asset Management (“Macquarie”), through Macquarie European Infrastructure Fund 7 and alongside co-investors including LGPS Central Limited, reached financial close on the acquisition of a 55% stake in Bristol Airport and a 26.5% stake in Birmingham Airport from Ontario Teachers’ Pension Plan. Macquarie had announced the agreement in June 2025 to acquire stakes in Bristol, Birmingham, and London City Airports. In October, Macquarie had also acquired an additional 50% stake in London City Airport, increasing its ownership to 75%.

Bristol Airport is the largest airport in South-West England, serving over 10 million passengers annually and operating routes to more than 115 destinations. It contributes approximately £2 billion to the South-West and South Wales economies each year. Birmingham Airport, the UK’s seventh-largest airport, handles approximately 14 million passengers annually, supports an estimated 30,900 jobs in the region, and offers around 140 direct international routes across 41 countries.

McCarthy Tétrault LLP advised Macquarie as Canadian counsel with a team led by Jonathan See that included Jeremy Pleasant and Haiya Peng (Corporate); Raj Juneja and Darren Chung (Tax).