Blackstone Group Explores Infrastructure Investment (Toll Roads Cited as “Particularly Fraught” with Debt and Inaccurate Traffic Projections.)

The Wall Street Journal (subscription required) reports, “Blackstone Group LP is exploring a new infrastructure-investing business at a time when more money than ever is being committed to funds that aim to invest in ports, pipelines and other public works. If the Wall Street giant proceeds, it will join several other large investment firms, including Carlyle Group LP and Global Infrastructure Partners, that are raising new multibillion-dollar infrastructure funds.” According to the article, “Toll roads have proven particularly fraught, with debt-loaded deals and inaccurate traffic projections after the housing bust resulting in a rash of bankruptcies among companies created to operate them.”