The US Army has turned to private equity to fund an infrastructure overhaul. Two top White House officials met Wall Street investors last week, part of a Trump administration effort to enlist the $13 trillion private capital industry into public financing.
The army secretary told the Financial Times that he wanted $150 billion in capital expenditure over the next decade, but only had a budget of $15 billion, so needed outside investment. Military spending is growing across the West, and private firms are benefiting. The EU spent a record $402 billion on defense last year, up 19% year-on-year, and the figure is expected to rise, Defense News reported. One military-focused index has seen its value double in the last 12 months.