AECOM Technology Corporation, the global technical and management support firm, announced this week that its $150 million fund will make direct investments in real estate and public-private projects.
Officially known as AECOM Global Fund I, L.P. with offices in New York City and Los Angeles, the fund is currently focused on investments in transportation and infrastructure opportunities as well as private real estate projects.
“AECOM Capital is a visionary investment platform that provides us with opportunities to play an important role in development projects as our clients pursue alternative-delivery options and look for partners who can provide financing, along with our traditional services,” said John M. Dionisio, AECOM chairman and chief executive officer.
“This fund also provides another opportunity to connect us with infrastructure projects that can benefit from our comprehensive service offerings.”
Michael S. Burke, AECOM president, added, “We are proud to be able to offer an innovative financing solution – to help address shortfalls in public funding for critical infrastructure projects and to help address the tightened credit environment for private sector real estate projects.
“Through these investments, we now have an opportunity to participate as a vital partner in advancing projects with our clients, while also generating revenue as our clients utilize AECOM’s traditional services.”
One of the projects that AECOM Capital is currently invested in is Provost Square, a luxury 417-unit apartment rental tower in Jersey City, N.J. The building is being developed jointly by Toll Brothers City Living and AECOM Capital. It is being constructed by AECOM’s construction services business. Leasing is anticipated to begin early 2015.