Tapping Private Sector for Roads and Bridges Poses Hurdles for Trump

One alternative asset manager raised $14 billion for infrastructure deals last year — the biggest such fund ever. About six months later, another manager topped it, raising $15.8 billion.  Soon, both those funds could be dwarfed if Blackstone Group LP, the world’s largest private-equity firm, gets back into the game. Joe Baratta, the firm’s global head of private equity, told Bloomberg Television it might raise as much as $40 billion for infrastructure deals. But even as President Trump vows to steer more private money toward improving U.S. roads, bridges and airports, familiar impediments may hinder investors. “The issue here isn’t availability of capital,’’ said Sam Pollock, chief executive of Brookfield Asset Management Inc.’s infrastructure group, which raised the $14 billion fund last year. “It’s whether or not you can truly make projects, as they say, ‘shovel ready.’”

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