Ontario Teachers' Pension Plan, Toronto, increased its stake in Birmingham (U.K.) Airport to almost 50%, the C$140.8 billion (US$121 billion) pension fund announced Monday.
The 19.25% stake was acquired from Victorian Funds Management, which manages A$46.6 billion (US$37.9 billion) in assets from superannuation and other funds for the state of Victoria in Australia.
The stake brings OTPP's holdings in Birmingham Airport to 48.25%. The remaining shares are owned by the seven metropolitan district councils in West Midlands County, England, according to the airport's website.
Terms were not disclosed. The pension fund, through its infrastructure group, made its initial investment in the airport in 2001 and increased its stake in 2007, according to a news release from OTPP.
Ontario Teachers also is the sole owner of Bristol International Airport in England, and has a 39% stake in Brussels Airport Co. and 30% stake in Copenhagen Airport.
OTPP's infrastructure group manages C$11.7 billion in direct global infrastructure investments, according to its website.
Officials at the Ontario Teachers pension fund were unavailable for further comment by press time.