NEW YORK — Related Companies, developer of Time Warner Center and the colossal Hudson Yards project, is forming Related Infrastructure, a new infrastructure-related investment group.
Related Infrastructure will focus on transportation opportunities and businesses that drive efficiency and affordability for state and local governments. Former U.S. Transportation Secretary and Mayor of Charlotte Anthony Foxx and seasoned transportation investment executive Andrew Right have joined Related Fund Management as Managing Partners to lead Related Infrastructure.
Related, one of the nation’s most prolific real estate development and investment firms, is capitalizing on decades of experience as a developer, investor and operator and its deep expertise in public-private partnerships to invest in, and grow infrastructure-related businesses and initiatives.
The new fund will be part of Related Fund Management, which was founded in 2009 to provide real estate-related investment advisory services. Related Fund Management has raised over $5 billion of capital for the platform across three areas: real estate investments, origination and acquisition of debt, and multi-family housing opportunities.
Justin Metz, Managing Principal of Related Fund Management said, “Secretary Foxx and Andrew Right bring a unique set of complementary skills to Related Infrastructure. Secretary Foxx has unparalleled experience in the public sector, having served as a member of the Charlotte City Council, Mayor of Charlotte and most recently, US Secretary of Transportation. Andrew Right has been an infrastructure investor for a decade with experience financing, investing and growing transportation assets. Their combined public, private and investment perspectives makes them the ideal leaders for this new business.”
Targeted investment opportunities of Related Infrastructure will include platforms that develop and manage transportation-related assets, municipal assets as well as companies providing infrastructure-related businesses, services and technologies, including those that provide, operate and maintain the services and technologies that are critical to smart cities, resilient energy infrastructure and urban technology deployments.
Secretary Foxx said, “Related is a well-respected organization with both unparalleled credibility and diverse real estate and investment interests, making them the ideal partner and platform to execute on this strategy. I look forward to working with Andrew and the Related team and using my own knowledge and experience to build a great business that addresses current and future transportation needs.”
Andrew Right said, “Related is a truly innovative company and recognizes the potential for infrastructure investment to transform how Americans live, work and interact with their communities. I am also excited to partner with Secretary Foxx and Related to invest in infrastructure businesses that will improve America’s transportation experience and enhance the efficiency of our cities.”