The Carlyle Group Raises First Infrastructure Fund at $1.15 Billion;Fund Will Invest in Transportation and Water Infrastructure Projects in the U.S. and Canada

Washington, DC – Global private equity firm The Carlyle Group today announced it has completed raising its first infrastructure fund, Carlyle Infrastructure Partners (CIP), with equity commitments totaling $1.15 billion. The fund will invest primarily in transportation and water infrastructure projects in the U.S. and Canada generally ranging from $100 million to more than $1 billion in enterprise value.

CIP was established in March 2006 and has 14 investment professionals located in New York and Washington, DC with more than 100 years experience in global infrastructure investing. CIP will invest in transportation and water and wastewater facilities, including roads, bridges, tunnels, airport facilities, maritime ports, transit projects and other public benefit infrastructure. The team is co-headed by Robert W. Dove, former Executive Vice President at Bechtel Enterprises, and Barry P. Gold, former Managing Director and Co-head of the Structured Finance Group at Citigroup. CIP’s first investment – Synagro Technologies – was acquired in a public to private transaction in April 2007. Synagro is the largest recycler of organic, non-hazardous waste and wastewater residuals (bio-solids) in the United States.

Mr. Dove said, “U.S. public infrastructure requires $1 trillion in funding over the next five years. The private sector has a role to play, as seen in Europe, and can be a proven means of helping to satisfy such dramatic funding needs. We are grateful to our investors for the confidence they have placed in us and we look forward to expanding the use of Public Private Partnerships in the U.S. and Canada.”

Mr. Gold said, “Carlyle takes a unique approach to public benefit infrastructure that addresses the accountability, user fees and quality concerns of some public officials and users. We create true partnerships, where private sector capital and expertise improve government services and facilities, while government oversight remains strong and decision-making and fees are shared through long-term concessions that provide predictable returns to the private company. It is a true win-win proposition.”

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