Wall Street Targets Gains on Biden Infrastructure Plan

Wall Street Targets Gains on Biden Infrastructure Plan

It’s the jargon cited in the infrastructure plan published Thursday by the White House – “asset recycling” – but there is cause for optimism for many titans expecting to see the term.

The prospect of investing in major US government projects – such as an airport concession and generating revenue for decades – has been pursued by Wall Street since talk of a massive boost to infrastructure in the wake of the 2008 financial crisis. .

Still, the US Congress failed to reach an agreement to clear the way. Some feared that taxpayers would be burdened with settlements or that consumers would face higher prices for travel, commuting, parking and electricity.

Since then, alternative asset managers have underscored investor commitments to large infrastructure funds, some of the billions of dollars that have yet to be fully disbursed. Other institutions such as Pension and Sovereign Wealth Fund have expressed interest in Finance projects in America.

Now – although some details were released on Thursday – it looks like a deal may be close.

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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