{"id":77857,"date":"2024-04-08T00:00:00","date_gmt":"2024-04-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/08\/investcorp-jv-will-redevelop-nycs-jfk-airport-terminal-6\/"},"modified":"2024-04-08T00:00:00","modified_gmt":"2024-04-08T00:00:00","slug":"investcorp-jv-will-redevelop-nycs-jfk-airport-terminal-6","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/08\/investcorp-jv-will-redevelop-nycs-jfk-airport-terminal-6\/","title":{"rendered":"Investcorp JV will redevelop NYC\u2019s JFK Airport Terminal 6"},"content":{"rendered":"

A brand new terminal at JFK courtesy of Investcorp: <\/font><\/strong>ADX-listed global investment manager Investcorp Capital and New York-based investment firm Corsair Capital will invest USD 4.2 bn in the redevelopment of New York\u2019s JFK Airport Terminal 6 via their JV Investcorp Corsair Infrastructure Partners, according to an ADX filing (pdf)<\/a> released on Thursday. The JV\u2019s airport platform Vintage Airport<\/a> will be responsible for developing, operating, and managing the new terminal.<\/p>\n

What to expect: <\/strong>The redevelopment will include a 1.2 mn sqft terminal with 10 gates, waiting areas and 100k sqft worth of amenities including two AirTrain airport rail stations. The first phase of construction is currently ongoing and is expected to be completed in 2025, followed by the second phase in late 2027. <\/p>\n

This marks Investcorp Capital\u2019s first investment in infrastructure: <\/strong>\u201cWe had recently announced that Investcorp Capital had strategically incorporated infrastructure into its portfolio of asset classes, expanding its potential for growth and diversification,\u201d Investcorp Vice Chairman Hazem Ben-Gacem said, adding that this marks its first investment into the asset class.<\/p>\n

Background:<\/strong> Investcorp acquired a 50% stake in Corsair's USD 4.8 bn infrastructure business back in December, forming Investcorp Corsair Infrastructure Partners and marking Investcorp\u2019s inaugural entry into infrastructure investment, according to a press release<\/a> at the time. <\/p>\n","protected":false},"excerpt":{"rendered":"

Investcorp Capital and New York-based investment firm Corsair Capital will invest USD 4.2 bn in the redevelopment of the terminal<\/p>\n","protected":false},"author":1,"featured_media":77858,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[145,182,44,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-aviation","tag-infrastructure","tag-investment-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"8f069db8-2e0c-417b-801e-54f6989382e0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/590.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Investcorp JV will redevelop NYC\u2019s JFK Airport Terminal 6","related_issue":[77847],"teaser":"Investcorp Capital and New York-based investment firm Corsair Capital will invest USD 4.2 bn in the redevelopment of the terminal","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.51a2d888-52d8-4ba2-b7c2-fdfd651c8643.mp3"},"yoast_head":"\nInvestcorp JV will redevelop NYC\u2019s JFK Airport Terminal 6 - 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