The successful completion of the takeover of Sydney Airport (ASX:SYD) in March 2022 marks the conclusion of 20 years as a listed entity. Since the inception of the Cromwell Phoenix Property Securities Fund (the Fund) in April 2008, Sydney Airport has been a core holding and a big positive contributor to the Fund’s returns.
The journey has been long and colourful, with many lessons learned along the way in terms of aviation, finance, governance and politics. This article tries to distil the journey into a short read – all puns intended.
