Related hires two former Obama officials to lead infrastructure initiative

Anthony Foxx and Andrew Right will head up the new division

TRD New York /
Dec.December 06, 2017 11:50 AM

From left: Andrew Right, Anthony Foxx, Stephen Ross and a rendering of Hudson Yards

Related Companies is tapping two former Obama transportation officials for a new infrastructure venture.

The Wall Street Journal reported that ex-Transportation Secretary Anthony Foxx, along with another former transportation official Andrew Right, are spearheading Related Infrastructure, which will invest in businesses developing or operating airports, toll roads and other types of infrastructure.

Related Infrastructure will strictly invest this way–into existing businesses invested in infrastructure–instead of making its own equity investments directly into developments and projects. “Our thesis was: Instead of doing the core play, we’ll focus more on the infrastructure servicers, managers and developers,” Right told the Journal.

The Trump campaign and then administration has beat the drum for a mostly privately-funded, $1 trillion infrastructure program for more than a year now, but has offered few specifics since President Trump took office in January. An infrastructure package was originally part of the president’s first 100 days plan, but slid down the agenda, first below health care, and more recently, below changes to the tax structure. [WSJ]Will Parker


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)

Related is the latest developer to target the Rockaways

Related is the latest developer to target the Rockaways
Paul Singer of Elliott Management (Getty; iStock)

Billionaire Paul Singer dumps NYC for West Palm Beach

Billionaire Paul Singer dumps NYC for West Palm Beach
660 Madison Avenue (Photo via Jenel Real Estate)

Safra family finally begins 660 Madison’s office-to-resi conversion

Safra family finally begins 660 Madison’s office-to-resi conversion
New York City council member Margarate Chin, Mayor Bill de Blasio and council member Carlina Rivera (Getty; iStock)

Why the Soho rezoning will pass — and Gowanus, too

Why the Soho rezoning will pass — and Gowanus, too
Public Advocate Jumaane Williams (Getty; iStock)

“It’s compliance warfare”: Industry slams landlord accountability bills

“It’s compliance warfare”: Industry slams landlord accountability bills
Stephen Ross and Time Warner Center (Getty)

Stephen Ross slashes price of Time Warner Center penthouse

Stephen Ross slashes price of Time Warner Center penthouse
City Comptroller Scott Stringer (Getty; iStock)

Real estate investments cost NYC pension funds $370M

Real estate investments cost NYC pension funds $370M
TRD's Erik Enguist and Port Authority's Rick Cotton

Port Authority, out $3B, has waterfront land to sell

Port Authority, out $3B, has waterfront land to sell
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...