In light of the White House focus on P3s as a "key principle" to advance its infrastructure initiative, lawyers from Clyde & Co's Infrastructure practice share what the US market can learn from their global P3 experience.
For several years now, the "buzz" has been that the US is "poised to become the largest public-private partners (P3) market in the world." And there is a good amount of hard statistics to support the argument that the P3 market in the US has in fact lived up to the "buzz". Still though, there is a lack of empirical data to thoroughly analyze the growth (and more importantly the performance success) of the P3 market in the US. But with the White House recently specifically identifying P3s as a "key principle" to advance its infrastructure initiative, which contemplates USD 1 trillion in spending, the potential growth of the P3 market cannot be ignored. This begs the following question: What can the US learn from the more mature international P3 market? In other words, what lessons can be learned, not the hard way, but by looking at the historical development, execution and performance of the P3 model globally?