Back- Marguerite has sold its 10% stake to a large US infrastructure investor
- Fraport Greece operates 14 regional airports across Greece under a 40-year concession
- The transaction marks a successful exit after supporting an extensive modernisation and expansion of Greece’s regional airport network
Luxembourg, 18 February 2026 – Marguerite’s first fund has closed the sale of its 10% stake in Fraport Greece, the operator of 14 regional airports in Greece, to a large US infrastructure investor, illustrating Marguerite’s ability to continue to crystallise value despite constrained exit markets.
Marguerite invested in Fraport Greece in 2017, shortly after the start of the 40-year concession awarded to a consortium comprising Fraport AG and the Copelouzos Group. Since then, Fraport Greece has successfully implemented an extensive modernisation and capacity expansion programme across 14 regional airports, including Thessaloniki, Corfu, Rhodes, Chania (Crete), Mykonos, and Santorini.
The investment supported major upgrades to terminal facilities, runways, and passenger services, enhancing the travel experience for millions of passengers each year, and reinforcing tourism as a key pillar of Greece’s economic recovery. In 2025, the airports handled over 37 million passengers, an increase of more than 12 million compared to 2016, the year before the start of the concession.
“We are proud to have supported Fraport Greece through a transformative period for Greece’s airport infrastructure, contributing to improved connectivity and supporting Greece’s economic growth,” said Michael Dedieu, Managing Partner and Co-Head of Investment at Marguerite. “Together with our co-shareholders – Fraport AG, a world-class airport operator, and the Copelouzos Group, a leading Greek infrastructure specialist – we supported the modernisation and expansion of 14 regional airports across Greece. Under the leadership of an excellent management team, Fraport Greece delivered major infrastructure upgrades, expanded capacity, and ensured strong performance despite COVID-19 challenges. This divestment represents a successful completion of our investment objectives and reflects Marguerite’s disciplined approach to value creation and capital rotation.”
Marguerite was advised by Nomura (M&A), A&O Shearman (legal), Karatzas & Partners (legal), KPMG (accounting and tax), Skylark (traffic & commercial), Arcadis (technical).
Marguerite is a pan-European investor in long-life greenfield and brownfield expansion infrastructure.
Our funds seek out capital-intensive, sustainable investment opportunities with a particular focus on four sectors: (1) Energy & renewables, (2) Digital transformation, (3) Waste & Water and (4) Transport.
Marguerite manages four European infrastructure funds, with our most recent being Marguerite III, and we’ve deployed in excess of €2 billion into projects designed to address the changing infrastructure landscape in Europe by integrating ESG principles and creating positive change for society.
Marguerite III benefits from support from the European Union under the InvestEU Fund.
From our origins in 2010 as an independent infrastructure investment manager backed by the European Investment Bank and the main European national promotional banks, we have evolved into a fund manager dedicated to generating value for investors while integrating robust ESG screening as part of our eligibility criteria and continuously measuring the positive impact of our investments. We are signatories of the Net Zero Asset Managers (NZAM) initiative and commit to aligning our portfolio with net zero emissions pathways by 2050 or sooner.
Our team is based in Luxembourg, Paris and Milan.