Jacmel Partners Announces P3 Investment in New York's LaGuardia Airport Terminal B
NEW YORK, May 9, 2025 /PRNewswire/ -- Jacmel Partners ("Jacmel"), a minority-owned alternative investment firm, announced today that its Jacmel Infrastructure platform, with support from GCM Grosvenor (NASDAQ:GCMG), a global alternative asset management solutions provider, has made an investment through Vantage Group's LLC in LaGuardia Gateway Partners (LGP), the private company that recently redeveloped and manages LaGuardia Airport Terminal B in New York City. Jacmel acquired a minority equity stake in LGP.
LGP has been responsible for the investment, private operation, and development of LaGuardia Airport's Terminal B through a long-term public-private partnership (P3) with the Port Authority of New York and New Jersey. The P3 project encompasses the $5.1 billion redevelopment of the terminal in 2022, marking one of the largest transportation infrastructure projects completed in US history.
"As LaGuardia's central hub for several major airlines, Terminal B sees millions of travelers every year, and LGP's recent redevelopment has only enhanced its operational capabilities," said Nick Jean-Baptiste, Co-Managing Partner of Jacmel. "The terminal will be a critical piece of infrastructure—for both the local community and for travelers from around the globe—for decades to come. Our team immediately recognized it as a fantastic opportunity, and we're very proud to take a stake in and provide clients exposure to this meaningful, long-term P3 investment."
The investment is the first for Jacmel Infrastructure, Jacmel's recently announced platform focusing on critical infrastructure across North America. Jacmel established its initial relationship with LGP through Arora Engineers, a Jacmel portfolio company since 2022 that provided engineering services to LaGuardia Airport.
"Terminal B is an exciting launching point for our broader infrastructure ambitions," said Mike Salzman, Operating Partner at Jacmel Infrastructure. "Over my career, I've seen firsthand how high quality P3 infrastructure initiatives like this can be transformative for investors and community members alike. Vantage Group has proven to be a skilled investor and leader through the redevelopment, and we're pleased to deepen our relationship with them."
LaGuardia's Terminal B redevelopment is the first airport project in the world to receive LEED v4 Gold Certification from the US Green Building Council. In addition, the project was also awarded the first Envision Platinum Award for commitment to sustainable practices and resiliency from the Institute for Sustainable Infrastructure (ISI). LaGuardia was recently named by Skytrax, the world's preeminent international airport rating organization, as the best airport in North America for domestic and short haul international travel.
Greenberg Traurig, LLP served as legal counsel to Jacmel for this investment.
About Jacmel Partners
Jacmel Partners is a minority-owned alternative investment firm dedicated to partnering with private companies and investing in projects that strengthen the nation's infrastructure. Through long-term relationships with companies, management teams, developers and government agencies, Jacmel is able to deliver flexible capital, operational insights and a strong impact framework. Our investments aim to create lasting value for employees, families and communities while fueling growth and innovation. To learn more, visit jacmelpartners.com.
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SOURCE Jacmel Partners