Private-equity firm Carlyle Group has struck an agreement with the state of Connecticut to rebuild and operate the state's 23 rest stops in return for share of their revenues.

The so-called public-private partnership calls for Carlyle and its partners to invest $178 million in the service areas. Carlyle-owned Dunkin' Donuts restaurants will be added to the rest stops. They will also house Subway sandwich shops, whose parent company is joining Carlyle in the investment.

Though a relatively small deal, the transaction could serve as a harbinger of bigger things to come, as state and municipal officials are looking to private capital to meet their infrastructure needs amid deep budget shortfalls.

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Posted by claire at November 20, 2009 7:31 PM