The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has announced a GBP50mn ($67mn) investment in London Gatwick Airport in a press release, marking one of its largest infrastructure transactions in Europe to date. The deal was completed in partnership with US-based Global Infrastructure Partners (GIP), part of BlackRock, which retains a managing stake in the UK’s second-busiest airport.

SOFAZ chief executive officer Israfil Mammadov described the transaction as a "landmark" for the sovereign fund’s growing infrastructure portfolio. "This investment is a clear signal of our strategy to partner with world-class institutions on assets that combine resilience, scale, and long-term value," he said. "Gatwick Airport is not only a critical gateway for Europe but also a strong, sustainable investment that reflects SOFAZ’s global vision," he said.

Gatwick Airport serves over 40mn passengers annually and was ranked as Europe’s 10th busiest airport in 2024. Following UK government approval of the Northern Runway expansion project, passenger capacity is projected to reach 75mn a year by the late 2030s. The airport supports more than 23,000 on-site jobs and contributes billions of pounds to the UK economy.

VINCI Airports acquired a 50.01% stake in Gatwick from GIP in 2019, while GIP retained management of the remaining shareholding, now held jointly with SOFAZ and other institutional investors.

GIP’s founder, chairman, and CEO, Adebayo Ogunlesi, welcomed the partnership: “We are pleased to continue our collaboration with SOFAZ on this important asset. Gatwick represents the kind of high-quality infrastructure that supports strong performance and long-term growth for our investors and communities,” he said.

Founded in 1999, SOFAZ manages Azerbaijan’s oil and gas revenues and had $66.5bn in total assets as of end-June 2025. The fund has expanded its European investments in recent years, including the purchase of a 49% stake in Italian solar plants from US renewable energy company Enfinity Global in July.

SOFAZ’s long-term investment strategy focuses on diversifying assets across sectors such as real estate, infrastructure, fixed income, equities, and gold. Its recent activity underscores a shift toward sustainable and income-generating projects in developed markets. The Gatwick investment aligns with SOFAZ’s goal of securing stable returns while contributing to sustainable economic development — positioning Azerbaijan’s sovereign wealth fund as an increasingly active global investor in strategic infrastructure assets.