Jacmel Partners Joins Vantage Group in LaGuardia Terminal B P3 Stake

Jacmel Partners has acquired a minority equity stake in LaGuardia Gateway Partners (LGP), the consortium responsible for redeveloping and operating Terminal B at New York’s LaGuardia Airport under a public-private partnership with the Port Authority of New York and New Jersey.

The stake was acquired through Vantage Group LLC, an existing LGP investor, and was supported by global asset manager GCM Grosvenor. Jacmel’s entry into the project builds on its prior involvement through Arora Engineers, a Jacmel portfolio company that provided engineering services to the terminal. Legal counsel for Jacmel was provided by Greenberg Traurig LLP.

Terminal B’s $5.1 billion redevelopment, completed in 2022, remains one of the largest transportation infrastructure P3 projects in U.S. history. Vantage Airport Group, a lead member of the LGP consortium, oversaw the redevelopment and continues to manage day-to-day operations at Terminal B, which serves several major airlines and millions of passengers each year.