WASHINGTON, DC & NEWPORT BEACH, CA, JULY 19, 2019 -- Global investment firm The Carlyle Group (NASDAQ: CG) and large-scale infrastructure firm VICO Infrastructure Company (VICO) have announced a partnership through which the firms will invest in water infrastructure projects across the United States. 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.
“We are delighted to partner with Carlyle and leverage an incredibly wide range of expertise, resources and capital to benefit communities, clients and investors,” said Brian Cullen, President & CEO of VICO Infrastructure. “We recognize there is significant demand for investment in US water infrastructure and partnering with Carlyle will advance VICO’s mission to combine creativity, knowledge, experience and transparency into every living infrastructure project.”
“The Carlyle Group is thrilled to partner with Brian Cullen, a respected industry veteran, and the entire VICO platform,” said Peter Taylor, Managing Director and Co-Head of the 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.”
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, Brian served as President and shareholder of PERC Water Corporation for 17 years. He was instrumental in completing over 20 mid-sized water infrastructure projects valued in the hundreds of millions of dollars. Most notably, Brian led the Santa Paula, California public-private partnership, the first privately funded project of its kind in the US.
To learn more, visit www.carlyle.com.
