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USS invests GBP143m in NATS

20-Nov-2013 2:32 PM

Universities Superannuation Scheme Limited (USS) announced (19-Nov-2013) that it will acquire a 49.9% non-controlling stake in The Airline Group Limited. The Airline Group is a 41.9% shareholder in NATS Holdings Limited, the holding company for NATS. The transaction was arranged by USS Investment Management Limited (USSIM), a wholly owned subsidiary of USS and its principal investment manager and advisor, which will manage the investment on USS’s behalf. The investment will be managed by USSIM’s infrastructure team which substantially reduces the overall cost to USS of investing in infrastructure. USS noted that "as a UK pension fund with a long-term commitment to provide high quality pensions for the higher education sector, USS finds UK infrastructure attractive for its members as it can provide inflation-linked, steady cash flows over a long time horizon, which match USS’s long-term liabilities". [more - original PR]