Global investment firm The Carlyle Group and large-scale infrastructure firm VICO Infrastructure Co. have formed a partnership that will invest in water infrastructure projects across the United States.
“We recognize there is significant demand for investment in U.S. water infrastructure, and partnering with Carlyle will advance VICO’s mission to combine creativity, knowledge, experience and transparency into every living infrastructure project,” said Brian Cullen, president and CEO of VICO Infrastructure.
The partnership will develop, acquire and optimize water, desalination, wastewater treatment and water reuse facilities across the country, meeting a growing need to address water scarcity due to population growth and aging infrastructure. Carlyle intends to fund this investment from its Carlyle Global Infrastructure Opportunity Fund.
“Population growth and increased economic activity in areas with limited water supply are increasing constraints on water infrastructure. We see a significant opportunity for VICO and Carlyle to invest in these communities to deliver improved, sustainable and resilient infrastructure for all stakeholders,” said Peter Taylor, managing director and co-head of the Carlyle Global Infrastructure Opportunity Fund.
VICO and Carlyle intend to collaborate and pursue investments with public agencies, private industries, education facilities, real estate and related energy and smart-city technology projects as well as explore opportunities with Carlyle’s existing and future portfolio companies. As an example, the City of Lake Oswego, Oregon, has shortlisted VICO and Carlyle as a potential preferred developer to lead the development and financing of a new wastewater treatment plant for the city.
Water industry veteran Brian Cullen established VICO in 2018. Prior to VICO, Cullen served as president and shareholder of PERC Water Corp. for 17 years.
