Private Equity Can Help Transit, to a Point: Jonathan Levin

Surprise, surprise! It turns out you can’t count on private equity investors to single-handedly provide effective and accessibly priced mass transit for commuters. South Florida learned this the hard way recently. But the biggest shock might be that the episode could work out for the best, validating the merits of public-private cooperation on US rail networks.

Back in 2018, Brightline train service seemed like the too-good-to-be-true answer to all the Sunshine State’s transportation woes. With the backing of Fortress Investment Group LLC, the company launched America’s first new privately owned intercity passenger rail service in a century, bringing modern and comfortable train service ...