Corsair Infrastructure, the global infrastructure investment business of Corsair Capital, and its subsidiary, Vantage Airport Group, have closed a $4.2 billion deal to develop the International Terminal 6 at John F. Kennedy Airport in New York.

JFK Millenium Partners is a private organization selected by the Port Authority of New York and New Jersey to finance, build and manage the new Terminal 6. The organization raised a total of $4.2 billion to fund the development of the new international terminal complex on the north side of JFK, including $1.3 billion in equity. As a member of JFK Millenium Partners, Vantage will be the developer and operator of the new terminal, with Corsair serving as the project’s financial sponsor. Corsair-Vantage is the majority shareholder in the project.

“We know airports and will leverage our expertise to deliver another world-class airport terminal in the New York market; one that will maximize opportunities for community involvement and employment, transform the guest experience for millions of visitors, and demonstrate the power of strong partnerships to deliver best-in-class airport infrastructure,” comments George Casey, chair and CEO for Vantage and board chair for JFK Millenium Partners.

Simpson Thacher & Bartlett LLP and McCarthy Tétrault LLP served as legal counsel.