Carlyle Raises $1 B For Public Works Fund
Carlyle Group, the private equity firm, has raised $1.15bn to fund investments in roads, bridges, airports and other public works in the US and Canada.
Lured by the steady cash flow transportation systems and utilities produce through tolls and other fees, investors such as Goldman Sachs, General Electric, India's ICICI Bank and, now, Carlyle have rushed to fill the funding gap facing federal and local governments.
Carlyle, a Washington-based firm with $75.6bn in assets under management, opened its infrastructure fund in March 2006. The fund struck its first deal this year, co-investing in the $772m buy-out of Synagro Technologies, the largest US recycler of organic waste.