American Triple I Partners chosen to work with JetBlue, JFK Millennium Partners
American Triple I Partners, a 100% minority-owned business enterprise founded by Henry Cisneros and members of the Siebert firm, has been chosen to work with JetBlue and JFK Millennium Partners to invest and manage funds for the redevelopment of JFK Terminals 6 and 7, a project that will focus on traditional institutional investors and minority and women investors.
It will also help lead community engagement efforts.
“As partners in the redevelopment of JFK Terminals 6 and 7, American Triple I looks forward to bringing real value to the project through our experienced team of infrastructure development and fund management professionals,” said American Triple I CEO David Cibrian.
The firm manages private equity investments in infrastructure. The firm’s name is derived from its focus on three areas — Infrastructure, Innovation and Investment.
After a request for proposals to the investment community and competitive selection process, JetBlue and JMP selected the MWBE firm as a 30% equity investor.
In a statement, JetBlue said the new partnership was “an important early step toward achieving New York Gov. Andrew Cuomo’s 30% MWBE participation goal at all phases of the multibillion-dollar transformation of JFK Airport.”
The Port Authority of New York and New Jersey picked JetBlue to build a 1.2 million square foot terminal featuring up to 12 international gates with about 74,000 square feet of commercial dining and retail spaces.
JFK Millennium Partners is a private consortium comprised of Vantage Airport Group and RXR Realty. It has developed multibillion-dollar projects in the New York area and has a lot of experience in fostering MWBE inclusion.
“With their vast investment and leadership experience and commitment to community partnership, we are proud to welcome American Triple I Partners to the team,” said Lisa Reifer, a JetBlue vice president.