CalPERS Strikes Gold in Gatwick Airport Investment
Chief Investment Officer
July 22, 1999
Fast forward to May 31, 2021 - Has CalPERS written down the value it holds on the book for Gatwick airport? (see the WSJ|Business sotry - Ignorance is Not Bliss)
The value of the 10% investment the California Public Employees’ Retirement System (CalPERS) made in London’s Gatwick Airport nine years ago has skyrocketed, turning an initial $155 million investment into a stake worth more than $1.24 billion.
The disclosure came during the pension system’s semiannual retreat meeting in Santa Rosa, California, last week, during a panel highlighting the importance of infrastructure investments to the $356.6 billion retirement plan. (read the July a1999 story here)