The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has partnered with U.S.-based Global Infrastructure Partners (GIP), a part of BlackRock, to invest £50 million in London Gatwick Airport.
The transaction represents one of the largest single infrastructure deals undertaken by SOFAZ in the European market, underscoring the Fund’s long-term commitment to global infrastructure and sustainable growth. Gatwick is the UK’s second-busiest airport, serving more than 40 million passengers annually. In 2024, it ranked as the 10th busiest airport in Europe by total passenger traffic. Long recognized as Europe’s busiest single-runway airport, Gatwick is now preparing for significant expansion following the UK Government’s approval of its Northern Runway project. It is predicted around 75 million passengers would travel through the airport each year by the late 2030s. Gatwick is a vital part of the UK’s national infrastructure, supporting over 23,000 jobs on-site and contributing billions annually to the British economy.
In 2019, VINCI Airports acquired a 50.01% stake in Gatwick from GIP. The remaining shareholding continues to be managed by GIP alongside SOFAZ and other global institutional investors.
This investment reflects SOFAZ’s strategic objective of generating long-term value and further diversifying its portfolio by investing in resilient infrastructure assets in developed markets.
SOFAZ CEO Israfil Mammadov said: “This landmark transaction is a clear signal of our strategy to partner with world-class institutions on assets that combine resilience, scale, and long-term value. Gatwick Airport is not only a critical gateway for Europe but also a strong, sustainable investment that reflects SOFAZ’s global vision.”
GIP Founder, Chairman, and CEO Adebayo Ogunlesi noted: “We are pleased to continue our partnership with SOFAZ on this important asset. Gatwick Airport represents the type of high-quality infrastructure that supports strong performance and long-term growth for our investors and communities.”
