The commercial construction industry in the US plays a pivotal role in building infrastructure and facilities that power the economy. It features a mix of general contractors, subcontractors, architects, and engineers working on projects ranging from office buildings to retail spaces and industrial developments. The industry is increasingly adopting technologies like BIM and automation to boost efficiency and sustainability. With a projected growth trajectory, it focuses on meeting rising demand for smart buildings and green construction practices. Interesting indicators include the increasing preference for modular construction and a move towards enhancing supply chain resilience to counter disruptions.


The top investors in the commercial construction sector represent various types, including venture capital, private equity, and corporate firms. They are headquartered primarily in major cities like New York and San Francisco, with company sizes ranging from small firms to large corporations. Founded between 1956 and 2019, these investors have completed numerous deals in 2024, with IFC and KKR leading the way. Their targeted investments span innovative construction technologies, infrastructure improvements, and growth opportunities across the industry.


Top 15 Commercial Construction Investors in the US


1. Advantage Capital


Advantage Capital is an investment firm based in New Orleans, Louisiana, founded in 1992. The firm specializes in providing equity and debt financing to small businesses, agribusiness, solar projects, and affordable housing, with a strong emphasis on supporting entrepreneurs in underserved communities. Their services include venture capital, capital investment consulting, and management of investment funds. Notably, Advantage Capital has been involved in several transactions that are relevant to the commercial construction sector, such as providing debt financing to Keeley Companies and Leading Edge Scaffold, both of which are companies that operate within the construction industry. Additionally, they have supported RJB Properties and NorthPark, further indicating their engagement in sectors that intersect with commercial construction. This diverse investment approach allows them to offer flexible capital solutions to help businesses grow and thrive in various industries, including construction.


2. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a leading investment management firm based in New York, specializing in alternative investments. Founded in 1985, the firm has built a robust portfolio that includes private equity, real estate, and credit solutions for both institutional and individual investors. Blackstone's strategy focuses on creating value through strategic investments and operational improvements. Notably, they have made significant investments in the commercial construction sector, including a $150 million investment in Nagarjuna Construction Company to support public-private infrastructure projects, and the acquisition of KP1, a prominent precast concrete products company. Furthermore, their acquisition of Mariana Infrastructure Ltd, which includes commercial projects in India, and the purchase of 3C Group's Special Economic Zone, highlight their commitment to expanding their footprint in commercial real estate. Their acquisition of Australia's Investa Office Fund for approximately $2.33 billion further underscores their active role in the commercial construction and real estate markets.


3. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR provides asset management solutions to institutional investors and individual clients, helping them navigate complex investment landscapes and achieve strong financial returns. KKR operates globally, leveraging its extensive expertise and resources to support its clients' investment needs. Notably, KKR has been involved in significant transactions within the commercial construction sector, including a $1.25 billion construction financing deal for the redevelopment of Terminal Warehouse in Manhattan, which is set to transform the historic property into modern office and retail space. Additionally, KKR has provided debt financing for residential projects in India, such as the Rs125 crore raised for Omkar Realtors & Developers, highlighting their active role in supporting construction initiatives.


4. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, dedicated to fostering private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to promote economic growth. In 2024, IFC was involved in several significant transactions relevant to the commercial construction sector, including a $350 million debt financing for Ronesans Holding, which is engaged in construction and real estate development. Additionally, IFC supported LMI Holdings with $30 million for industrial development in Ghana, specifically targeting the Tema Free Zone and Dawa Industrial Zone. Other notable transactions include a $351 million post-IPO debt raised by Ayala Land, a major player in real estate development, and a $545 million post-IPO debt for Vesta Mexico, which focuses on industrial real estate. These transactions highlight IFC's commitment to investing in projects that contribute to commercial construction and infrastructure development.


5. EMCOR Group, Inc.

  • Website: emcorgroup.com
  • Type: Corporate
  • Headquarters: Norwalk, Connecticut, United States (USA)
  • Founded year: 1994
  • Headcount: 10001+
  • LinkedIn: emcor-group-inc

EMCOR Group, Inc. is a prominent corporate investor based in Norwalk, Connecticut, specializing in construction services with a focus on mechanical and electrical construction, industrial services, and energy infrastructure. Founded in 1994, the company operates through a network of over 100 subsidiaries across the United States, serving a diverse clientele that includes both businesses and government entities. EMCOR's commitment to sustainability and innovation is evident in its strategic acquisitions aimed at enhancing its service offerings. Notable transactions include the acquisition of Baker Electric, Inc. to bolster U.S. operations, Dallas Mechanical Group to expand their mechanical services, and Gaston Electrical Co., LLC, which enhances their specialty construction services in the Greater Boston area. These acquisitions reflect EMCOR's active role in the commercial construction industry, making it a significant player in this sector.


6. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm based in New York, New York, founded in 1998. The firm provides a wide range of services, including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In the context of commercial construction, Goldman Sachs has participated in significant transactions such as the Series A funding for Cybercity Builders & Developers, which raised $2,840,392 in 2016, and multiple investments in Sterling And Wilson, a company involved in engineering and construction services, including a $50,000,000 private equity round in 2008. These transactions highlight Goldman Sachs' engagement in the commercial construction sector, demonstrating their capability and interest in supporting growth within this industry.


7. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. With a workforce exceeding 10,000 employees, the firm provides a wide array of services including wealth management, investment banking, and capital markets. Morgan Stanley serves a diverse clientele, including individuals, families, corporations, and governments, helping them manage and grow their financial assets. In the context of commercial construction, Morgan Stanley has made significant investments, such as participating in a $55 million Series B funding round for Factory_OS, a company that integrates digital technologies to enhance the construction of multifamily housing. Additionally, they acquired Allstar Construction in May 2023, further expanding their footprint in the construction industry. Their investment in DB Realty and KSH Infra also highlights their engagement in real estate and infrastructure, which are closely tied to commercial construction activities.


8. Installed Building Products Foundation


Installed Building Products Foundation is a corporate investor based in Columbus, Ohio, specializing in installation services for insulation and related home improvement products. Founded in 2019, the foundation has quickly established itself with a national presence and a commitment to quality in the construction industry. In 2024 alone, they have made seven investments, significantly enhancing their portfolio. Notable transactions include the acquisition of Royals Commercial Services, which focuses on spray foam insulation and thermal barrier installation for commercial clients, thereby expanding IBP's footprint in the commercial construction sector. Additionally, their acquisition of Alpha Insulation and Waterproofing is expected to bolster their revenue mix and commercial construction platform. These strategic moves demonstrate their active role in the commercial construction industry, making them a relevant investor in this space.


9. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm based in New York, specializing in alternative assets and retirement solutions. Founded in 1990, the firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. In recent years, Apollo has made significant strides in the commercial construction sector, highlighted by its acquisition of The State Group, a leading provider of multi-trade services essential for construction projects. Additionally, Apollo's investments in Aldar Properties and Jain Housing & Constructions showcase its commitment to the real estate and construction industries. These transactions reflect Apollo's strategy to empower growth and provide innovative capital solutions within the commercial construction landscape.


10. Quanta Services, Inc.

  • Website: quantaservices.com
  • Type: Corporate
  • Headquarters: Houston, Texas, United States (USA)
  • Founded year: 1997
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: quanta-services

Quanta Services, Inc. is a Houston-based corporate investor specializing in infrastructure services across various sectors, including electric power, pipeline, industrial, and communications. Founded in 1997, the company has grown significantly, employing over 10,000 people. Quanta provides a comprehensive range of services, including construction, maintenance, and engineering solutions, primarily to utility companies and industrial firms. Notably, Quanta has made several strategic acquisitions that enhance its capabilities in the commercial construction space. For instance, the acquisition of Nova Group, a general engineering contracting company, allows Quanta to expand its construction services. Similarly, the recent acquisition of Cupertino Electric, valued at approximately $1.54 billion, further strengthens its position in the electrical contracting sector. These transactions highlight Quanta's commitment to diversifying its portfolio and enhancing its service offerings in the commercial construction industry.


11. Nv5

  • Website: nv5.com
  • Type: Corporate
  • Headquarters: Hollywood, Florida, United States (USA)
  • Founded year: 1947
  • Headcount: 1001-5000
  • Number of deals in 2024: 10
  • LinkedIn: nv5

NV5 is a consulting and engineering company based in Hollywood, Florida, founded in 1947. The firm provides technology, conformity assessment, and consulting solutions for infrastructure, utility, and building systems, serving both public and private sector clients. In 2024, NV5 has been active in the market, completing several acquisitions that bolster its capabilities in the commercial construction sector. Notable transactions include the acquisition of ASG Engineering Consultants and Fluhrer Reed, both aimed at enhancing their engineering services. Additionally, their acquisition of Industrial Design Associates International focuses on MEP design and building commissioning, which are critical components in commercial construction. NV5's strategic acquisitions, such as the RBA Group, further strengthen their infrastructure engineering services, making them a significant player in the commercial construction industry.


12. Brick & Mortar Ventures

  • Website: brickmortar.vc
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 8
  • LinkedIn: brickmortarvc

Brick & Mortar Ventures is a venture capital firm based in San Francisco, California, founded in 2015. The firm specializes in investing in innovative startups within the architecture, engineering, and construction sectors, providing both financial support and consulting services. Their goal is to enhance efficiency and productivity in these industries, thereby modernizing the built environment. Notable transactions include leading a $10.8 million Series A funding round for Connect Homes, a company focused on prefab home building, and participating in a $9.4 million Series A round for Rugged Robotics, which develops robotic technologies for construction. Additionally, they have invested in other startups like BuildZoom and ALICE Technologies, further solidifying their commitment to advancing the commercial construction industry.


13. Bowman Consulting

  • Website: bowman.com
  • Type: Corporate
  • Headquarters: Reston, Virginia, United States (USA)
  • Founded year: 1995
  • Headcount: 1001-5000
  • Number of deals in 2024: 8
  • LinkedIn: bowman-consulting

Bowman Consulting Group Ltd. is an engineering and consulting firm based in Reston, Virginia, founded in 1995. The company provides a wide range of services, including civil/site engineering, transportation engineering, and environmental consulting, catering to both government agencies and private sector clients. In recent years, Bowman has actively expanded its portfolio through strategic acquisitions, enhancing its presence in the commercial construction sector. Notable transactions include the acquisition of Perry Engineering LLC, a civil engineering consulting firm, and Project Design Consultants, which specializes in civil engineering, surveying, planning, and landscape architecture. These acquisitions are expected to significantly contribute to Bowman's annualized net service billing, demonstrating their commitment to strengthening their capabilities in infrastructure and commercial construction projects.


14. Autodesk

  • Website: autodesk.com
  • Type: Corporate
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 1982
  • Headcount: 10001+
  • Number of deals in 2024: 12
  • LinkedIn: autodesk

Autodesk, Inc. is a corporate investor based in San Francisco, California, founded in 1982. The company specializes in providing a wide range of design and engineering software solutions tailored for industries such as architecture, engineering, construction, and manufacturing. With a workforce of over 10,000 employees, Autodesk empowers professionals to enhance productivity and creativity in their projects through its flagship products like AutoCAD and Revit. In recent years, Autodesk has made significant investments in the commercial construction space, including a $55 million investment in Factory_OS, which aims to revolutionize multifamily housing construction through digital technologies. Additionally, Autodesk acquired PlanGrid for $875 million to bolster its construction management capabilities, and it also acquired Pype, a provider of AI-powered software solutions for the construction industry. These strategic moves highlight Autodesk's dedication to improving workflows and collaboration in commercial construction projects.


15. Kodiak Building Partners

  • Website: kodiakbp.com
  • Type: Corporate
  • Headquarters: Englewood, Colorado, United States (USA)
  • Founded year: 2011
  • Headcount: 5001-10000
  • Number of deals in 2024: 5
  • LinkedIn: kodiak-building-partners

Kodiak Building Partners is a corporate investor based in Englewood, Colorado, specializing in the distribution of building materials. Founded in 2011, the company empowers local businesses in the construction industry by providing essential resources and support to independent building material companies. Kodiak operates across various states, focusing on local partnerships to help these businesses thrive while maintaining their unique community identities. The firm has been actively involved in the commercial construction sector through several key acquisitions, including Mandere Construction, which enhances their construction capabilities, and Carpenter Contractors of America, known for fabricated lumber components and field installation services. Other notable acquisitions include Christensen Lumber, aimed at strengthening their presence in the Midwest, and New England Building Supply, which facilitates growth in the eastern U.S. market. These transactions underscore Kodiak's commitment to expanding its footprint in the commercial construction industry and supporting the growth of related businesses.



Commercial Construction Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
BlackstoneNew York, New York, United States (USA)1001-5000198557
KkrNew York, New York, United States (USA)1001-5000197674
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
EMCOR Group, Inc.Norwalk, Connecticut, United States (USA)10001+19940
Goldman SachsNew York, New York, United States (USA)10001+199859
Morgan StanleyNew York, New York, United States (USA)10001+198679
Installed Building Products FoundationColumbus, Ohio, United States (USA)5001-1000020197
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
Quanta Services, Inc.Houston, Texas, United States (USA)10001+19975
Nv5Hollywood, Florida, United States (USA)1001-5000194710
Brick & Mortar VenturesSan Francisco, California, United States (USA)1-1020158
Bowman ConsultingReston, Virginia, United States (USA)1001-500019958
AutodeskSan Francisco, California, United States (USA)10001+198212
Kodiak Building PartnersEnglewood, Colorado, United States (USA)5001-1000020115


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