InstarAGF sells stake in Billy Bishop terminal to J.P. Morgan
InstarAGF Asset Management has sold its interest in Nieuport Aviation Infrastructure Partners GP, the owner and operator of the passenger terminal at Billy Bishop Toronto City Airport. Terms weren't disclosed. The buyer was U.S. asset manager J.P. Morgan Asset Management. In 2015, InstarAGF partnered with J.P. Morgan, Kilmer Van Nostrand Co, Partners Group and other investors to acquire the terminal from Porter Aviation Holdings Inc, reportedly for more than $750 million. InstarAGF, a Toronto-based investor in North American infrastructure and real assets sectors, bought its stake through InstarAGF Essential Infrastructure Fund, which raised $740 million in 2017.
25 February 2019•3 mins read
