Former U.S. Department of Housing and Urban Development Secretary Henry Cisneros and other principals of the investment banking firm Siebert Cisneros Shank & Co. have launched American Triple I Partners.
It will be a New York–based firm that manages private equity investments in infrastructure.
It is starting to raise capital while focusing on a handful of projects. Each would involve an investment of about $300 million and aim to bring in annual returns of 9 to 12 percent.
American Triple I will use private equity capital in transportation, knowledge and information systems and smart city projects. The company’s primary objective will be to invest client capital in projects that need between $25 million and $50 million in equity capital and are located in secondary U.S. markets. American Triple I may also consider bigger projects in U.S. markets where the firm could bring value to a transaction.
Cisneros, who is chairman and co-chief investment officer of American Triple I, will remain chairman of the executive committee at SCS. The CEO and co-CIO of the new firm is David Cibrian.