In January 2026, BBGI Management HoldCo S.à.r.l., a Luxembourg-based global infrastructure investment company owned by British Columbia Investment Management Corporation (BCI), acquired a 100 percent equity interest in the LAX Consolidated Rent-A-Car Facility (ConRAC), a strategically important transport infrastructure asset forming a core component of Los Angeles International Airport's landside access modernisation programme.
The LAX ConRAC project consolidates rental car operations previously dispersed across multiple off-airport locations into a single, purpose-built facility directly connected to the airport's Automated People Mover, improving operational efficiency while materially reducing traffic congestion and associated emissions in the airport area. The facility comprises approximately six million square feet of gross floor area and accommodates up to 18,000 rental vehicles. The asset serves five major rental car operators and includes extensive supporting infrastructure, including customer service and ready-return facilities, 37 car washes, 186 fuel pumps, and 224 electric vehicle charging stations with expansion capability. The facility was officially declared fully operational on March 11, 2026, with all 12 on-airport rental car brands relocated to the new center.
As a mission-critical component of one of the world's busiest airports, the asset provides BBGI with direct exposure to essential transport infrastructure. The facility incorporates LEED Silver-certified buildings and significant electric vehicle charging capacity, supporting the transition to lower-emission ground transport and aligning with BBGI's sustainability objectives. The investment enhances BBGI's operational transport portfolio while contributing to the decarbonisation of airport ground access infrastructure.
Norton Rose Fulbright Canada LLP advised BBGI on the transaction, with Douglas Buchanan leading the engagement. Norton Rose Fulbright US LLP also advised on the matter.