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US army taps private equity groups to help fund $150bn revamp

Apollo, KKR, Carlyle and Cerberus among investors that held talks with federal government

The US army has asked private equity groups including Apollo, Carlyle, KKR and Cerberus to pitch “meaty” strategic projects to help the service fund a $150bn infrastructure overhaul.

US army secretary Daniel Driscoll and Treasury secretary Scott Bessent held a forum with about 15 of Wall Street’s best-known buyout firms last Monday to discuss deals.

Driscoll told the Financial Times he gathered the private investors to say, “‘Hey, here are all the assets we have in our arsenals and our depots that we are underutilising . . . What are those types of deals where we can work with you and invite you in?’”

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