The U.S. Army has formally invited top private‐equity firms to submit proposals in support of an infrastructure modernisation programme estimated at around $150 billion.

The outreach included firms such as Apollo Global Management, Carlyle Group, KKR & Co. and Cerberus Capital Management, who were asked to present “meaty” investment ideas for partnership with the Army.

At a forum hosted by Army Secretary Daniel Driscoll and Treasury Secretary Scott Bessent, around fifteen major buy-out firms met with senior Army officials to explore unique financing models including land-swaps and equity stakes rather than traditional cash payments.

The Army’s internal budget for infrastructure is significantly smaller than the funding gap it expects. Officials identify a shortfall in excess of $135 billion relative to projected needs, driving this private-capital push.

The types of projects under review encompass construction of data centres, processing facilities for rare earths and other critical minerals on Army bases, and modernising base infrastructure with non-traditional financial structures.

This move bucks the typical model where defence infrastructure remains wholly government-funded. The Army aims to leverage private investors to deliver scale and innovation at a time when its own budget is constrained. F

Firms were given informal guidance that they need to propose full …