Blackstone’s infrastructure strategy for individual investors has acquired a 22% stake in AGS Airports, owner of Glasgow, Aberdeen and Southampton airports, from AviAlliance for £235 million.

AGS handles more than 11 million passengers annually. AviAlliance acquired AGS last November from Macquarie and Ferrovial in a deal valued at £1.5 billion.

Greg Blank, chief executive of Blackstone Infrastructure Strategies, said transport was a focus for investment on the back of global growth in leisure travel.

“AGS has access to one of the most diversified airline mixes of any major UK airport, and the company’s recent capital improvements aimed at accommodating large aircraft pave the way for new routes and higher traffic growth.

“We look forward to partnering with AGS to support this important growth in the United Kingdom.”

Gerhard Schroeder, managing director of AviAlliance, said: “We look forward to developing a constructive and long-term partnership with Blackstone for the benefit of AGS, its management and employees, as well as all other stakeholders at the three airports.

“Together, we will further strengthen the position of AGS in both Scotland and the wider United Kingdom.”

AviAlliance has an international airport network, currently managing stakes in airports at Aberdeen, Athens, Düsseldorf, Glasgow, Hamburg, San Juan (Puerto Rico) and Southampton.

In 2024, these airports together handled more than 90 million passengers.

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