Jacmel Partners Announces P3 Investment in New York's LaGuardia Airport Terminal B
Rhea-AI Summary
Jacmel Partners, supported by GCM Grosvenor (GCMG), has acquired a minority stake in LaGuardia Gateway Partners (LGP) through Vantage Group's LLC. LGP manages LaGuardia Airport Terminal B through a public-private partnership with the Port Authority of NY and NJ. The terminal underwent a $5.1 billion redevelopment in 2022, representing one of the largest US transportation infrastructure projects.
The investment marks Jacmel Infrastructure's first venture, building on their relationship with LGP through Arora Engineers, a Jacmel portfolio company. Terminal B has achieved notable recognition, including LEED v4 Gold Certification, the Envision Platinum Award, and was named best airport in North America for domestic and short-haul international travel by Skytrax.
Positive
- Strategic investment in a major infrastructure asset serving millions of travelers annually
- Terminal B holds prestigious certifications (LEED v4 Gold, Envision Platinum) demonstrating sustainable practices
- Recent recognition as best airport in North America by Skytrax enhances investment value
- Long-term P3 agreement provides stable revenue potential
Negative
- Minority stake position limits control over operations and strategic decisions
- High initial investment cost ($5.1B project) may impact returns
News Market Reaction – GCMG
On the day this news was published, GCMG gained 1.26%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LGP has been responsible for the investment, private operation, and development of LaGuardia Airport's Terminal B through a long-term public-private partnership (P3) with the Port Authority of
"As LaGuardia's central hub for several major airlines, Terminal B sees millions of travelers every year, and LGP's recent redevelopment has only enhanced its operational capabilities," said Nick Jean-Baptiste, Co-Managing Partner of Jacmel. "The terminal will be a critical piece of infrastructure—for both the local community and for travelers from around the globe—for decades to come. Our team immediately recognized it as a fantastic opportunity, and we're very proud to take a stake in and provide clients exposure to this meaningful, long-term P3 investment."
The investment is the first for Jacmel Infrastructure, Jacmel's recently announced platform focusing on critical infrastructure across
"Terminal B is an exciting launching point for our broader infrastructure ambitions," said Mike Salzman, Operating Partner at Jacmel Infrastructure. "Over my career, I've seen firsthand how high quality P3 infrastructure initiatives like this can be transformative for investors and community members alike. Vantage Group has proven to be a skilled investor and leader through the redevelopment, and we're pleased to deepen our relationship with them."
LaGuardia's Terminal B redevelopment is the first airport project in the world to receive LEED v4 Gold Certification from the US Green Building Council. In addition, the project was also awarded the first Envision Platinum Award for commitment to sustainable practices and resiliency from the Institute for Sustainable Infrastructure (ISI). LaGuardia was recently named by Skytrax, the world's preeminent international airport rating organization, as the best airport in
Greenberg Traurig, LLP served as legal counsel to Jacmel for this investment.
About Jacmel Partners
Jacmel Partners is a minority-owned alternative investment firm dedicated to partnering with private companies and investing in projects that strengthen the nation's infrastructure. Through long-term relationships with companies, management teams, developers and government agencies, Jacmel is able to deliver flexible capital, operational insights and a strong impact framework. Our investments aim to create lasting value for employees, families and communities while fueling growth and innovation. To learn more, visit jacmelpartners.com.
Media Contact:
Shree Dhond/Jansel Murad
Dukas Linden Public Relations
jacmel@dlpr.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/jacmel-partners-announces-p3-investment-in-new-yorks-laguardia-airport-terminal-b-302450688.html
SOURCE Jacmel Partners
FAQ
What is the value of Jacmel Partners' investment in LaGuardia Terminal B?
What certifications has LaGuardia Terminal B received?
How does this investment affect GCM Grosvenor (GCMG) stock?
What is LaGuardia Gateway Partners' role in Terminal B?
What recognition has LaGuardia Airport recently received?
