International consortium acquires 25% of Pulkovo airport

A consortium of international investors has acquired a 25% stake in Thalita Trading, the holding company of the Northern Capital Gateway that manages Pulkovo International Airport in St. Petersburg, Russia.

The consortium comprises Russian Direct Investment Fund (RDIF), Russia-China Investment Fund, Mubadala Development Co., Baring Vostok Private Equity Fund V and a number of related funds (Baring Vostok), as well as leading co-investors from the Middle East.

“RDIF’s efforts helped to form an international consortium of investors, attracting more than $200 million into Russia from leading funds, including from Asia and the Middle East. We are confident that the arrival of new shareholders will contribute to the dynamic development of Pulkovo, one of the largest airports in Russia,” RDIF CEO Kirill Dmitriev said.

Moscow-based RDIF is Russia’s sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors.

Pulkovo airport is the fourth biggest in Russia after Moscow Sheremetyevo, Domodedovo and Vnukovo. It handled 7.1 million in 1H 2017, up 25.4% year-over-year. It is a base airport for Aeroflot subsidiary Rossiya Airlines.