As part of his new role as operating partner, Porcari has also joined the board of directors of Vantage Airport Group, a portfolio company of CIP. Porcari will remain in his current role at WSP as president of US Advisory Services.
He also serves as interim executive director of the Gateway Program Development Corporation, the entity charged with designing, financing and constructing the Gateway program of projects in the New York and New Jersey metropolitan area.
CIP is the global infrastructure equity sponsorship and investment management business of Corsair Capital, a specialist private equity firm focused on investing in the financial services industry.
Porcari said: “CIP’s thoughtful, patient and strategic approach to creating value is well-suited to the transportation sector, and I look forward to working closely with the CIP team and its strong portfolio company management groups in the years to come.”
Hari R. Rajan, managing director of Corsair and head of CIP, said, “We are thrilled to welcome John as an Operating Partner, and believe his deep expertise in transportation will add significant value to our infrastructure business as we increase our focus on this complex, growing and attractive sector. John’s extensive knowledge, execution capabilities and relevant expertise make him an ideal operating partner for our transportation assets around the world.”
CIP currently manages Gateway Infrastructure Investments, a $2.9bn infrastructure fund with assets worldwide, through a sub-advisory agreement with the general partner. Other portfolio companies include the Kelda Group (water), Itinere (toll roads) and DP World Australia (ports).
Meanwhile, the Gateway Program Development Corporation has issued a request for proposals to provide legal services in New Jersey. Proposals are due December 15.