The US army has begun exploring deals with major private equity groups — including Apollo, KKR, Carlyle, and Cerberus — to help fund a $150 billion overhaul of its infrastructure. Army Secretary Daniel Driscoll and Treasury Secretary Scott Bessent met with 15 leading buyout firms in Washington last week, urging them to propose large-scale, creative projects that could modernise ageing bases and supply chains, the Financial Times reported.

A $150 billion gap and a new approach to funding

Driscoll said the army’s existing $15 billion budget for infrastructure is insufficient to cover its decade-long needs. To fill that $135 billion shortfall, he invited private firms to suggest unconventional financing models. “We actually just want meaty projects,” Driscoll said, describing the meeting as

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