Investcorp Capital to Invest $4.2 Billion to Redevelop JFK International Airport’s Terminal 6

Abu Dhabi-based Investcorp Capital, an investor in private markets and provider of capital financing services in the alternative investments space, on Thursday announced that it has agreed to invest in the $4.2 billion re-development of New York’s JFK International Airport’s Terminal 6.

The investment will be made through Investcorp Group’s newly formed partnership with Corsair Capital – Investcorp Corsair Infrastructure Partners. Investcorp Corsair Infrastructure Partners is the lead financial sponsor of the redevelopment project, and its wholly owned airports platform Vantage Airport Group serves as the developer, operator, and manager of the new terminal.

JFK is New York’s main hub for international traffic. In 2022, it served 69% of the region’s international passengers. The $4.2 billion redevelopment will replace the current Terminal 7, delivering a state-of-the-art 1.2 million-square-foot terminal featuring 10 gates with spacious waiting areas, in addition to more than 100,000 square feet of commercial amenities, airline lounges, and two AirTrain stations.

Construction of the terminal will be executed in two phases, with Phase I currently underway and expected to be completed in 2025, while Phase II is slated for completion in late 2027.

“The modernization of JFK and the $4.2 billion earmarked for the development of Terminal 6 is a uniqueopportunity to invest in a groundbreaking infrastructure project in one of the world’s busiest and most vital travel hubs that caters to millions of domestic and international passengers each year,” stated the Vice Chairman and Non-Executive Director of Investcorp Capital, Hazem Ben-Gacem. “This mega-project stands to gain from promising long-term economic and demographic trends, such as a more affluent clientele driving increased demand for travel, in addition to the latest advances in technology, security, and sustainability.”

He added, “We had recently announced that Investcorp Capital had strategically incorporated infrastructure into its portfolio of asset classes, expanding its potential for growth and diversification. This investment into Terminal 6 is the first Investcorp Capital shall be undertaking with the new strategy and proof of our commitment to delivering high-quality opportunities in the infrastructure asset class to our investors.”

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About Investcorp Capital plc

Investcorp Capital is an alternative investment company that invests in private markets and provides capital financing services. It offers investors exposure to a global portfolio of investments across various asset classes, including those that have been and will continue to be carefully selected by Investcorp Group. Investcorp Capital covers strategies across corporate investments, global credit, real estate and strategic capital, to generate value and recurring income by receiving dividends, collecting rents, financing fees and interest.

Investcorp Capital was founded by Investcorp Group, a leading independent manager of alternative investments, with approximately $52 billion in assets under management (including assets managed by third parties). Investcorp Group has over four decades of experience and expertise in delivering attractive and consistent returns across multiple strategies, sectors and geographies.