The Real Deal New York

Related hires two former Obama officials to lead infrastructure initiative

Anthony Foxx and Andrew Right will head up the new division
December 06, 2017 11:50AM

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