(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 9.​ The State Oil Fund of Azerbaijan (SOFAZ) has put its money where its mouth is, investing a cool 50 million pounds sterling in London's Gatwick Airport, and this move is part of a partnership with Global Infrastructure Partners (GIP), a US-based investment firm that's in the pocket of BlackRock, Trend reports via SOFAZ.

This investment is one of the fund's most significant infrastructure deals in the European market, confirming its long-term involvement in global infrastructure projects and commitment to sustainable development.

Gatwick Airport, the second-busiest hub in the UK, sees more than 40 million passengers pass through its gates each year and was in the running among the top ten busiest airports in Europe by 2024.

For many years, Gatwick was considered the busiest single-runway airport in Europe. Following the UK government's approval of the Northern Runway project, the airport has entered a major expansion phase. Its passenger traffic is projected to reach approximately 75 million people annually by the late 2030s.

As one of the UK's key transport hubs, Gatwick Airport supports over 23,000 jobs and contributes billions of pounds to the UK economy annually.

In 2019, VINCI Airports acquired a 50.01 percent stake in Gatwick Airport from GIP. The remaining stake continues to be jointly managed by GIP, SOFAZ, and other international institutional investors.

This investment is strategically important for diversifying SOFAZ's investment portfolio through investments in sustainable infrastructure assets aligned with the fund's long-term investment strategy.

"This important investment project is a prime example of our strategy, which is based on collaborating with leading global partners on assets with sustainable value and strategic importance. Gatwick Airport is not only a key European transportation hub but also a reliable, promising asset that reflects the fund's global and long-term approach to investment," SOFAZ CEO Israfil Mammadov noted.

Adebayo Ogunlesi, the Founder, Chairman, and CEO of GIP, expressed significant appreciation for the investment.

"We are pleased to continue our partnership with the State Oil Fund of Azerbaijan on such a significant asset as Gatwick Airport. This airport is a high-quality infrastructure project that delivers long-term value and sustainable development for both investors and society," he said.

Established in 1999 with assets amounting to $271 million at the time, SOFAZ is an extrabudgetary fund that operates as a distinct legal entity, independent of the government or central bank. SOFAZ protects and judiciously administers energy-derived revenues for current and forthcoming generations. A fundamental principle of SOFAZ is transparency. During this era, the Fund has evolved institutionally and attained international recognition as an asset management organization.

MENAFN09102025000187011040ID1110172093