Global investment firm The Carlyle Group and large-scale infrastructure firm VICO Infrastructure Company (VICO) announced a partnership through which the firms will invest in water infrastructure projects across the United States. The partnership will develop, acquire and optimize water, desalination, wastewater treatment, and water reuse facilities across the country, meeting a growing need to address water scarcity due to population growth and aging infrastructure. Carlyle intends to fund this investment from its Carlyle Global Infrastructure Opportunity Fund.

VICO and Carlyle intend to collaborate and pursue investments with public agencies, private industries, education facilities, real estate and related energy and smart-city technology projects as well as explore opportunities with Carlyle’s existing and future portfolio companies. As an example, the City of Lake Oswego, Oregon has shortlisted VICO and Carlyle as a potential preferred developer to lead the development and financing of a new wastewater treatment plant for the city.