The purchase of a £400 million stake in Heathrow Airport by the Universities Superannuation Scheme has taken its portfolio of infrastructure assets to £1.5 billion - roughly twice what it had 18 months ago.

USS said yesterday afternoon that today it would acquire the 8.65% stake in FGP Topco ̶ a holding company that owns Heathrow Airport Holdings ̶ from Spain's Grupo Ferrovial, which remains the largest shareholder with a 25% stake.