Swiss Life Asset Managers on behalf of its infrastructure funds takes a minority equity stake in the New Terminal One at JFK International Airport, marking a further investment in the transportation sector. When complete the terminal will be catering for a unique customer experience and usher a new era of modern aviation.
On 26 July 2022 Swiss Life Asset Managers on behalf of its funds has committed with a minority interest in JFK International Airport’s New Terminal One development project. For this investment Swiss Life Asset Managers joined JLC Infrastructure and the other consortium partners, to fund the construction of a USD 9.5 billion, 2.4m square foot state-of-the art terminal in one of the most attractive urban areas worldwide.
Render of New Terminal One JFK International Airport. Source: New Terminal One
JFK International Airport is the major international gateway serving the city of New York and the greater Tri State metropolitan region - one of the world's most populous areas and a key financial centre. JFK is among the busiest airports in the United States. JFK New Terminal One transformative project will delight travellers of one of the world's most popular and important destinations and international gateways to and from the United States. The airport is owned and operated by the Port Authority of New York and New Jersey.
For Swiss Life Asset Managers this is the third investment in the aviation sector and represents a vote of confidence in the future of modern aviation. Structural tailwinds will keep assisting airports for a long time to come. The economics of operating an airport has strong linkages to demographic factors such as growth in discretionary spending, along with growing global demand for mobility via access to air travel. This trend shows no sign of abating due to improved airline capacity utilisation, new aircraft orders, advances in technology and construction of modern airport facilities.
Sinisha Ponzio, Head of Value Add Infrastructure at Swiss Life Asset Managers comments: “We are pleased to have signed this significant investment on behalf of our funds. The soon to be world-class terminal in one of the leading US airports represents an infrastructure asset with attractive long-term growth potential and fits very well into our fund’s investment strategy”.
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About Swiss Life Asset Managers Infrastructure Equity
Established in 2011, the Swiss Life Asset Managers Infrastructure Equity platform manages over EUR 9bn in AUM for its clients and partners. The team consists of more than 50 investment specialists, with an average of 20 years industry experience across the senior level members. The platform has made over 60 infrastructure investments, across 8 funds, in both direct and fund opportunities across the Energy, Communications, Transportation, Regulated Utilities, Social Infrastructure and Renewable Energy sectors.
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