Ownership Of Gatwick Airport: London's Private Aviation Hub

Gatwick Airport, the second-busiest airport in the UK, has changed hands several times over the years. In 2009, a majority stake in the airport was acquired by Adebayo Ogunlesi, a Nigerian-born investment banker and chairman of Global Infrastructure Partners (GIP). With this purchase, Ogunlesi became known as The Man Who Bought Gatwick Airport. However, in 2018, a French group, Vinci Airports, took a controlling stake in Gatwick Airport, acquiring 50.01% of the airport from a consortium led by GIP. This deal was worth £2.9 billion and marked a new chapter in the airport's history, with Vinci Airports aiming to further develop and grow the airport's operations.

Gatwick Airport was bought by Adebayo Ogunlesi, a Nigerian investment banker

Gatwick Airport, London's second-largest airport, was bought by Adebayo Ogunlesi, a Nigerian investment banker. Ogunlesi is the chairman and managing partner of Global Infrastructure Partners (GIP), an independent investment fund based in New York City with worldwide stakes in infrastructure assets. GIP acquired a majority stake in Gatwick Airport in 2009, in a deal worth £1.455 billion.

Ogunlesi, born in 1953, is a prominent figure in the aviation industry, particularly known for his acquisition of Gatwick Airport. He attended the prestigious King's College, Lagos, and went on to study philosophy, politics, and economics at Oxford University, graduating at the top of his class. He then obtained law and business degrees from Harvard, during which he was on the Harvard Law Review. With a strong academic background, Ogunlesi ventured into the world of investment banking, joining First Boston in 1983 as an advisor on a Nigerian gas project. He quickly rose through the ranks, demonstrating his expertise in managing high-powered deals in various emerging markets.

At First Boston, Ogunlesi played a crucial role in the Project Finance Group, advising clients on transactions and financings across multiple regions, including North and South America, Europe, the Middle East, Africa, and Asia. His prowess in the field led to his appointment as the Head of the Global Energy Group of Credit Suisse First Boston in 1997. Ogunlesi's impressive career trajectory continued as he climbed the corporate ladder at Credit Suisse, eventually becoming the Global Head of its Investment Banking Division in 2002. During this time, he also served on the Executive Board and Management Committee, solidifying his position as a key decision-maker within the organization.

With a wealth of experience and a proven track record, Ogunlesi ventured out on his own in 2006, founding the private equity firm Global Infrastructure Partners (GIP). Under his leadership as chairman and managing partner, GIP made significant acquisitions, including London City Airport in 2006 and Gatwick Airport in 2009. The purchase of Gatwick Airport by Ogunlesi, a Nigerian investor, was a notable event that even earned him the nickname "The Man Who Bought Gatwick Airport" in the Nigerian press.

Ogunlesi's acquisition of Gatwick Airport was not without its challenges. The airport had been suffering deep losses for years, and its former managers, the British Airport Authority (BAA), had failed to turn it around. However, Ogunlesi believed in the airport's potential and invested his own personal funds into the acquisition. He vowed to transform Gatwick into a truly first-class international airline, focusing on enhancing the customer experience.

The impact of Ogunlesi's leadership at Gatwick Airport extended beyond financial improvements. He also had a vision for expanding the airport's capacity and improving its infrastructure. Gatwick operates the busiest single runway in the world, and Ogunlesi pushed ahead with a planned 15-year investment programme, which included widening the emergency runway and bringing it into daily use as a second runway. With these developments, Gatwick Airport was expected to serve up to 70 million passengers annually, rivaling the capacity of Heathrow Airport.

Adebayo Ogunlesi's purchase of Gatwick Airport in London was a significant event, not only for his career but also for the aviation industry. His strategic investments and operational improvements transformed Gatwick into a world-class business and tourist airport, solidifying his reputation as a leading figure in the aviation industry.

Ogunlesi is the chairman and managing partner of Global Infrastructure Partners (GIP)

Adebayo "Bayo" Ogunlesi is a Nigerian-born lawyer and investment banker. He is the chairman and managing partner of the private equity firm Global Infrastructure Partners (GIP). Ogunlesi's educational background and work experience have prepared him well for this role. He attended King's College, Lagos, and later received a B.A. with first-class honours in philosophy, politics, and economics from Oxford University. He furthered his education at Harvard Law School and Harvard Business School, obtaining a JD and an MBA.

Ogunlesi's career began at the New York City law firm Cravath, Swaine & Moore, where he worked as a law clerk to Associate Justice Thurgood Marshall of the United States Supreme Court. He then transitioned to the world of investment banking, joining First Boston as an advisor on a Nigerian gas project. Over the years, he worked his way up to prominent positions at Credit Suisse First Boston, eventually becoming the Global Head of the Investment Banking Division. In 2006, he started GIP, a private equity firm that has made significant acquisitions in the aviation industry, including London City Airport and Gatwick Airport in London.

GIP's acquisition of Gatwick Airport for £1.455 billion (or £1.51 billion according to another source) in 2009 was a landmark moment for Ogunlesi, earning him the nickname "The Man Who Bought Gatwick Airport" in the Nigerian press. As chairman and managing partner of GIP, Ogunlesi has continued to seek out strategic investments and improve the customer experience at the airport. He has also fostered ties with US President Donald Trump and served on the board of directors at Goldman Sachs.

Ogunlesi's success extends beyond his work at GIP. He has been recognised for his contributions to the African economic renaissance and has advised the Nigerian government on various occasions. In 2009, he was appointed non-executive chairman of the Africa Finance Corporation (AFC), working to address critical infrastructure and investment needs on the continent. With his strong pedigree, work ethic, and global connections, Ogunlesi has become a prominent figure in the business world, particularly in the aviation industry.

GIP is an independent investment fund based in New York City

A quick online search reveals that Gatwick Airport is owned by a company called Gatwick Airport Limited, which is a subsidiary of Global Infrastructure Partners (GIP). GIP is an independent investment fund based in New York City, with a specific focus on infrastructure assets. The fund has a global presence and a strong track record in the aviation industry.

GIP was founded in 2006 and has since become a leading name in the world of infrastructure investing. With a team of experienced professionals, the fund identifies and acquires infrastructure assets with significant growth potential. The fund's strategy is to invest in a diversified portfolio of infrastructure assets, with a long-term horizon, and to actively work with the assets to enhance their value.

Being based in New York City, GIP has access to a global network of industry experts and a strong base for international operations. The fund's independence allows it to make agile and strategic decisions, reacting to market opportunities. GIP has a particular interest in the aviation sector and has successfully invested in several airport assets worldwide.

GIP first acquired Gatwick Airport in 2009 and has since played a significant role in the airport's development. The fund has invested in improving the airport's infrastructure, enhancing the passenger experience, and increasing the airport's capacity. GIP's expertise and financial backing have been instrumental in Gatwick's growth as a leading international airport.

GIP's presence in the aviation industry extends beyond Gatwick. The fund has also invested in other significant airport assets, including Edinburgh Airport and London City Airport. Through its investments, GIP has demonstrated a commitment to improving airport efficiency, sustainability, and the overall passenger journey. The fund's expertise and resources have positively impacted the airports under its management.

With a strong track record and a dedicated team, GIP continues to seek out strategic investment opportunities in the infrastructure sector. The fund's focus on long-term value creation and its hands-on approach to asset management make it a notable player in the global infrastructure landscape.

Gatwick Airport was previously owned by the British Airports Authority

Gatwick Airport, the second-busiest airport in the UK, was acquired by Adebayo Ogunlesi, a Nigerian-born investment banker and chairman of Global Infrastructure Partners (GIP). The deal, worth £1.51 billion, included a 75% stake in London City Airport and Biffa Limited, a UK-based waste management company.

Adebayo Ogunlesi is not just the chairman but also the managing partner of GIP, an independent investment fund based in New York City. With worldwide stakes in infrastructure assets, GIP has a portfolio of noteworthy assets, including airports and waste management companies.

The acquisition of Gatwick Airport by Adebayo Ogunlesi is a significant milestone, as it propelled him into the global spotlight and earned him a place in history. Ogunlesi's strong belief in the airport's future potential led him to invest his personal funds into the acquisition. With a promise to make Gatwick a first-class international airline, he has worked towards substantially improving the customer experience.

Ogunlesi acquired the airport for £1.455 billion or £1.5 billion

Gatwick Airport, London's second-largest airport, was acquired by Adebayo Ogunlesi, a Nigerian-born investment banker and money manager, in a deal worth £1.455 billion or £1.5 billion. This purchase brought international attention to Ogunlesi and earned him a place in history as the owner of London's second-largest airport.

Ogunlesi, who is the chairman and managing partner of Global Infrastructure Partners (GIP), an independent investment fund with a global presence, played a pivotal role in the acquisition. GIP is a private equity firm that manages over $5.6 billion in assets and has a strong focus on infrastructural investments. The purchase of Gatwick Airport was a significant addition to their portfolio, which also includes stakes in other airports and businesses.

The airport, which is the eighth busiest in Europe by passenger numbers, was facing financial challenges before the acquisition. In the first nine months of 2009, Gatwick reported a pre-tax loss of over £780 million. The previous owner, British Airport Authority (BAA), had also lost £225 million on the airport after being compelled to sell it by the Competition Commission. Ogunlesi saw the potential in Gatwick and strongly believed in its future prospects, even investing some of his personal funds into the acquisition.

The deal for Gatwick Airport was finalised in 2009, and it marked a significant milestone in Ogunlesi's career. He had previously led the acquisition of London City Airport in 2006 and implemented operational improvements that resulted in a 22% growth in passenger numbers. With his experience and determination, Ogunlesi was poised to turn around Gatwick's fortunes and enhance its reputation as a world-class business and tourist airport.

The acquisition of Gatwick Airport by Ogunlesi for £1.455 billion or £1.5 billion was a testament to his business acumen and marked a new chapter in the airport's history. With his global experience and expertise in infrastructure investments, Ogunlesi was well-positioned to transform Gatwick into a thriving and efficient transportation hub.

Frequently asked questions