A division of the Chinese state’s foreign exchange regulator is reportedly set to join the £2 billion bidding war for London City Airport.
Gingko Tree is believed to be in talks with Australia’s Macquarie about teaming up to make an offer for the Docklands airport, the Telegraph reported.
Bidding has not yet begun for the airport, which was put up for sale by private equity giant and Gatwick and Edinburgh airports owner Global Infrastructure Partners in August.
An information memorandum on the sale is expected to be issued later this month, with first-round bids for the airport likely to be submitted by the end of November and a sale expected to be concluded by the end of the year.
Gingko is described as a little-known London-based fund that makes infrastructure and property investments for China’s State Administration of Foreign Exchange, the agency that is responsible for managing the nation’s $3.6 trillion of foreign reserves.