The Globe and Mail reports in its Friday edition that Thursday's federal budget promises legislation to set up the Canada Strong Fund, announced in April as the country's "first national sovereign wealth fund," as a stand-alone, arm's-length Crown corporation, with its own chief executive officer and board. The Globe's James Bradshaw writes that as Ottawa prepares to partly privatize airports in Toronto, Vancouver, Montreal and Calgary, the Canada Strong Fund appears poised to join investor groups that will pay billions to take over airport operations. The fund would be a passive investor with a minority stake, and could receive a share of the proceeds. The feds will keep ownership of the underlying land and assets. Investors such as Canada's major pension funds could operate the airports for 40 to 50 years, the budget suggests, though concession details have not yet been decided. Investors would receive revenue streams from airport operations such as food, retail and parking, and take on responsibility for upgrading airport facilities and processes. The budget earmarks $37.6-million over three years to launch the first airport operating concession and run a competitive process to choose an airport operator by 2029.