In part two of an interview about a U.S. infrastructure bank, Institutional Investing in Infrastructure (I3) senior editor Drew Campbell speaks with Michael Likosky, director of the Center on Law & Public Finance and senior fellow at New York University’s Institute for Public Knowledge. The first part of the interview was published in the October issue of I3.

What returns could investors earn with a U.S. infrastructure bank?

How you decide what the returns will be is dependent upon the investor and its investment model. For instance, a private equity fund is looking for a certain return, and they’re investing in a certain type of infrastructure that they believe would produce those results — projects that can start generating returns very quickly. Whereas another type of investor might want something more conservative with a more stretched out return from its investments, and this is the sweet spot that the United States is aiming for from