UK-based Stratus Infrastructure has launched a public-private partnership (PPP; P3) transaction and asset management service in the US, according to a statement.
The foray into the US comes alongside the appointment of John Small as its US associate and recognises the fact that 34 states out of 50 have now passed P3 legislation in order to open up future funding options for infrastructure.
Historically, US state and municipal governments have tended to issue municipal bonds, which are tax-exempt, to fund transportation projects.
Founded by two infrastructure veterans, Bob Shekleton and Nigel Brindley, Stratus has over 20 years’ experience of leading investments in P3s, with its executives having closed and managed over $20 billion of project-financed infrastructure deals from schools and courthouses to transportation schemes such as roads and mass transit rail systems, the statement said.
“I’m delighted to be joining Stratus Infrastructure at this formative stage of the US P3 market. There is great potential for the structuring, bidding and P3 process expertise that Stratus will bring and I’m very excited about our prospects in this market,” said Small.
Having known Small for 15 years, Shekleton said his hands-on experience of working with major EPC contractors will bring heavyweight experience to Stratus’ US offering.