Investcorp Teams Up With Corsair Capital For $4.2 Billion JFK Terminal 6 Makeover

Abu Dhabi-listed Investcorp Capital plc, an alternative investment firm, has officially announced its involvement in the ambitious $4.2 billion project aimed at redeveloping Terminal 6 at New York's JFK International Airport.

This strategic move is carried out through a newly established partnership between Investcorp Group and Corsair Capital, named Investcorp Corsair Infrastructure Partners. This entity will act as the principal financial backer for the redevelopment initiative. Vantage Airport Group, the wholly-owned airports platform of the partnership, will take on the roles of developer, operator, and manager for the new terminal.

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Based in ADGM, Abu Dhabi, Investcorp has chosen not to disclose the financial specifics of its investment. The undertaking aims to replace the existing Terminal 7, with the construction process divided into two distinct phases. The initial phase is currently in progress, with an anticipated completion date in 2025. The project's second phase is expected to conclude by the end of 2027.

Hazem Ben-Gacem, the Vice Chairman and Non-Executive Director of Investcorp Capital, expressed his enthusiasm about the investment, highlighting it as a significant step within the firm's newly adopted strategy. This strategy aims to diversify its portfolio by incorporating infrastructure as a key asset class.

"This investment into Terminal 6 is the first Investcorp Capital shall be undertaking with the new strategy and proof of our commitment to delivering high-quality opportunities in the infrastructure asset class to our investors," said Ben-Gacem.

The redevelopment of Terminal 6 at JFK International Airport represents a significant enhancement to one of the world's most bustling aviation hubs. Investcorp's involvement, in partnership with Corsair Capital through the Investcorp Corsair Infrastructure Partners, underscores the global investment community's confidence in the potential of infrastructure investments to yield substantial returns.

As the project progresses, it aims not only to modernize airport facilities but also to significantly improve the passenger experience, thereby positioning JFK International Airport for continued growth and success in the years to come.