Related hires two former Obama officials to lead infrastructure initiative

Anthony Foxx and Andrew Right will head up the new division

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
(Getty Images)
LA developer doubled as abusive porn director, documentary alleges
LA developer doubled as abusive porn director, documentary alleges
(Getty Images)
Millions of housing units are needed in the US
Millions of housing units are needed in the US
From left: Silverstein Properties CEO Marty Burger; BedRock Real Estate Partners co-founder Tracey Applebaum; Council member Julie Won; a rendering of Innovation QNS in Astoria (Getty, BedRock Real Estate Partners, New York City Council)
Council approves Silverstein, BedRock’s $2B Innovation QNS
Council approves Silverstein, BedRock’s $2B Innovation QNS
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
From left: Ilitch Holdings' Chriistopher Ilitch and Related Companies' Stephen Ross with 2250 Woodward Avenue
Ilitch, Ross propose $1.5B Detroit development
Ilitch, Ross propose $1.5B Detroit development
Related Companies' Stephen Ross with One Flagler, 360 Rosemary, and 515 Fern (Getty, Related Companies)
Mapping out Steve Ross’ South Florida empire
Mapping out Steve Ross’ South Florida empire
Silverstein Properties' Marty Burger, City Council Speaker Adrienne Adams, BedRock Real Estate's Tracey Appelbaum, City Council member Julie Won and Mayor Eric Adams with rendering of Innovation QNS (Silverstein Properties, Getty, New York City Council, Innovation QNS)
5 lessons from Silverstein’s Astoria deal
5 lessons from Silverstein’s Astoria deal
arrow_forward_ios

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

Loading...