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. 

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.

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.