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U.S. infrastructure capital markets: Public and private equity, and public and private debt
- April 1, 2022: Vol. 15, Number 4

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U.S. infrastructure capital markets: Public and private equity, and public and private debt

by Lawrence Souza, Nathaniel Derrick and Michael Mikacich

This article briefly describes infrastructure investment and development in the United States and estimates the nature and size of the equity and debt capital markets for infrastructure financing and investment.

 

The United States has gone through a multitude of infrastructure development stages over the decades, utilizing different mixes of financing. Originally, infrastructure in the United States was financed through direct government payments up until the past 20 to 30 years, and recently has relied more heavily on the public and private capital markets. The need for infrastructure investment in the United States is significant.

The financing for these programs and projects comes from a mix of sources, such as: direct government (equity) investment, public-private partnerships, public and private debt and equity markets, and project-based and municipal bond markets. One of the solutions to financing infrastructure is the development of an Inf

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