Royal Schiphol Group (via its subsidiary Schiphol International B.V.), and Oaktree Capital Management L.P.’s Transportation Infrastructure Investing Group (“Oaktree”), announced on Nov. 11 that they have entered into an alliance to pursue airport investment and management opportunities within the North American market, focusing on the U.S. The alliance will concentrate on building public-private partnerships, driving infrastructure investment, implementing operational and sustainability best practices, and improving the overall level of customer experience at U.S. airports.
The alliance plans to work alongside innovative and forward-thinking airports with an interest in accessing the expertise of Schiphol’s world-class aviation franchise and Oaktree’s public-private airport experience and value-added, long-dated, stable infrastructure capital. “Our partnership with Schiphol will increase our ability to access the FAA’s Airport Investment Partnership Program (AIPP) and to invest alongside existing airport management teams as we help U.S. airports modernize their infrastructure” said Emmett McCann, managing director and co-portfolio manager of Oaktree’s Transportation Infrastructure Investing strategy.
“We are thrilled to work alongside the Oaktree team to combine our joint expertise in the U.S. market. We believe that the AIPP creates interesting opportunities to expand our presence in the U.S., including the ability to partner with existing airport operators. We believe that these types of partnerships give airport managers and local municipalities the ability to expand their depth and expertise of airport management, create new and broader access to capital, while also allowing operators to continue to hold an important role in the direction and management of their airport,” stated Kjell Kloosterziel, director of Schiphol International. “This type of transaction is aimed at benefiting local communities and other local stakeholders, while also giving the airport sponsor the benefits of the AIPP program – creating true long-term partnerships that align with our corporate culture and strategy seeking to create long-term value for all stakeholders.”