BlackRock, Brookfield Pledge $4 Billion Infrastructure Push (1)

Three major investment funds are committing at least $4 billion to spur private-capital investment in infrastructure in the developing world, President Joe Biden announced.

BlackRock Inc., Global Infrastructure Partners and Brookfield Asset Management are together pledging the money as part of the Group of Seven’s infrastructure partnership with the private sector. Government and business leaders said the initiative was more urgent than ever to show the world’s major free-market economies can remain viable partners.

“Together, I think we’re showing that democracies can deliver. This is an important moment to be able to do that,” Biden said Thursday at the ...