Jacmel Partners Invests in LaGuardia Airport's Terminal B Redevelopment Project

Jacmel Partners Takes Major Stake in LaGuardia Airport's Terminal B

In a significant development for New York's LaGuardia Airport, Jacmel Partners, a minority-owned alternative investment firm, has announced a notable investment via its Jacmel Infrastructure platform. This venture, supported by GCM Grosvenor—a prominent global asset management firm—signals a new phase for Terminal B, which is crucial for airline operations and passenger travel.

Jacmel Partners acquired a minority equity stake in LaGuardia Gateway Partners (LGP), the private entity that has recently transformed and manages Terminal B. This investment comes amid a $5.1 billion redevelopment project under a long-term public-private partnership (P3) with the Port Authority of New York and New Jersey. The terminal, which serves millions of travelers annually, is an essential hub for major airlines and is set for expansive improvements to its infrastructure and operational capabilities.

A Transformative Project for Travelers and the Community

Nick Jean-Baptiste, Co-Managing Partner of Jacmel, emphasized the importance of this redevelopment. He stated, "Terminal B is a vital part of the local infrastructure and will serve the needs of travelers for many years ahead. Recognizing the opportunity this project entails, we are honored to contribute and help shape the future of this critical asset."

This investment marks Jacmel's first initiative under its infrastructure-focused platform, aimed at enhancing critical infrastructure across North America. The firm established its connection with LGP through Arora Engineers, a company within Jacmel's portfolio since 2022, which provided essential engineering services to the airport.

Mike Salzman, Operating Partner at Jacmel Infrastructure, shared his excitement: "This project represents a launching point for our ambitions in infrastructure. My career has shown me the transformative potential of quality P3 initiatives for both investors and community members. Working with Vantage Group, who have proven their skill in handling this redevelopment, enhances our strategic relationship further."

Sustainable Innovations and Recognition

LaGuardia's Terminal B redevelopment is remarkable not just for its scale, but also for its commitment to sustainability. It has achieved LEED v4 Gold Certification from the U.S. Green Building Council, becoming the first airport project worldwide to gain this distinction. Additionally, it received the Envision Platinum Award for its sustainable practices from the Institute for Sustainable Infrastructure (ISI). Recently, Skytrax recognized LaGuardia as the best airport in North America for both domestic and short-haul international travel, further highlighting the terminal's significant upgrades.

Jacmel partners to strengthen this investment through the legal expertise of Greenberg Traurig, LLP, ensuring that all due diligence and regulatory requirements are met thoroughly.

About Jacmel Partners

Jacmel Partners is dedicated to investing in and partnering with private enterprises that aim to improve the nation's critical infrastructure. With a focus on sustainable growth and community impact, Jacmel's efforts are aimed at generating long-lasting value for families, employees, and communities alike. For more information about Jacmel Partners and its initiatives, visit jacmelpartners.com.

This investment in LaGuardia Airport's Terminal B is more than a financial asset; it represents Jacmel Partners' commitment to positive community impact through infrastructure innovation.