London City Airport could be bought by one of the world’s biggest sovereign wealth funds.
Reports in The Telegraph suggest the Docklands site - valued at £2billion - could be snapped up by Wren House Infrastructure Management, an investment vehicle owned by Kuwait Investment Authority.
For the bid they are said to be teaming up with Canadian giant Ontario Teachers’ Pension Plan and investment firm Hermes.
Boasting $592billion (£377billion) in assets, the KIA is the world’s fifth largest sovereign wealth fund.
The group will pitch against the infrastructure arm of Australian financial group, Macquarie.
Meanwhile, insiders have told Reuters Wharf-based Credit Suisse will advise London City on the sale.
The bank and the majority owner Global Infrastructure Partners (GIP) have declined to comment but Credit Suisse was one of the founding businesses of GIP in 2006 along with General Electric Co.