The Carlyle Group has become the latest private equity house to create a dedicated infrastructure investment team.
The initial team of eight will be led by co-heads Robert Dove, former executive vice president of Bechtel Enterprises, and Barry Gold, former managing director and co-head of the structured finance group at Citigroup.
Dove said that there is a "dire need to bring private capital to the development and maintenance of public infrastructure."
David Rubenstein, co-founder and managing director of Carlyle, said: "The US is finally starting to realise what the rest of the world has learned, that private investment can help alleviate persistent infrastructure challenges."
The group said its new team will invest primarily in US infrastructure transactions ranging from $100m (€84m) to more than $1bn. It will engage in public-private partnerships with governments at all levels as well as purchasing projects outright.
Carlyle's fund follows similar moves by competitors.
Australian bank Macquarie closed a €1.5bn ($1.8bn) infrastructure fund in July last year, after 3i, Europe's biggest listed private equity group, created its own dedicated infrastructure team a month earlier.
Henderson Private Capital raised €485m for its infrastructure fund, while Goldman Sachs is targeting €2.5bn to be targeted at the sector. ABN Amro announced plans for an infrastructure fund in January.