Private Equity Industry Ready to Invest In New Projects that Create Jobs and Improve Communities Across America
WASHINGTON, D.C. – Today, American Investment Council President and CEO Mike Sommers released the following statement regarding President Trump’s new infrastructure plan:
“Private equity investors of all sizes are ready to invest in new infrastructure projects that will create jobs, improve local services, and strengthen communities across America. We appreciate the President’s leadership on this important issue and look forward to working with his team as they move forward with this plan. Public-private partnerships are a proven method to bring much needed financing to large scale projects – and private equity firms have long been a part of these successful collaborations. With record levels of dry powder on hand, our industry has the financial resources and business expertise to manage the revitalization of critical U.S. infrastructure projects. Working together, we can restore America’s roads, waterways, bridges, rail transportation, and public buildings – and directly improve the daily lives of millions of Americans.”
Background on Private Equity Infrastructure Leadership and Success Across America
Private equity firms have ample experience partnering with federal, state, and municipal governments on infrastructure projects. To learn more about private equity infrastructure investment, please read the AIC’s report Private Capital And Public Good: Revitalizing Infrastructure With Private Capital.
The following projects are just a few examples where private investment helped rebuild public utilities and improve America’s highways, power sources, telecommunications, and other public services that directly the lives of millions of Americans.
The Carlyle Group’s Modernization of Connecticut’s Service Plazas
A public-private partnership between The Carlyle Group the state of Connecticut created 23 modern highway service plazas. The project included the total renovation of the structure, interior, and exterior of all the plazas, including upgrading facilities to receive LEED Silver certification along with extensive environmental, health, and safety improvements. These improvements resulted in increased use of the facilities, including a 65 percent jump in food and beverage sales. Customers also benefited from new restaurants and retail tenants as well as more parking and free Wi-Fi. The project created 375 Connecticut jobs, and is expected to generate $500 million in economic benefit over the life of the concession to the state.
Renewable Energy Systems
ArcLight Capital’s Leading Investment in Terra-Gen Power
ArcLight Capital was the largest investor in Terra-Gen Power, the only U.S. company providing electricity on a utility scale from three major renewable energy resources: wind, solar, and geothermal power. With ArcLight’s sponsorship, Terra-Gen developed and constructed 11 interconnected wind projects totaling 1,547 Megawatts, making it the largest onshore wind portfolio in the U.S. The company sells its renewable power to utilities and power cooperatives, with the wind projects providing clean, renewable power to over 1.5 million U.S. customers.
About the American Investment Council
The American Investment Council (AIC) is an advocacy and resource organization established to develop and provide information about the private investment industry and its contributions to the long-term growth of the U.S. economy and retirement security of American workers. Member firms of the AIC consist of the country’s leading private equity and growth capital firms united by their successful partnerships with limited partners and American businesses. More information about the AIC can be found at www.investmentcouncil.org.