The University of Texas at Austin is now home to one of the nation's few university-based research centers dedicated to public infrastructure financing, the Center on Municipal Capital Markets (CMCM), as part of the LBJ School of Public Affairs. This newly launched center aims to bolster the ability of communities to fund pivotal infrastructure projects by utilizing private capital, as reported by the University of Texas at Austin. In essence, CMCM's mission is to train and research how public entities can effectively mobilize private capital for developing and maintaining schools, roads, and hospitals while enhancing the resilience of critical infrastructure sectors such as energy systems.

A crucial part of the center's work is to prepare both graduate students and professionals via specialized training programs. As federal initiatives to revitalize the nation's infrastructure kick into gear after periods of disinvestment, the relevance of private capital in public infrastructure projects is taking the spotlight. UT President Jay Hartzell highlighted the significance of the venture, stating, “Our future as a growing, resilient society depends upon our ability to wisely invest in infrastructure, especially in the important sectors of health care, transportation and energy. Tomorrow’s leaders need to understand the role of capital markets in making those investments possible,” as stated by the University of Texas at Austin.

Back in December 2023, an event marked the foundation for this initiative when more than 100 public finance organization leaders convened, engaging in discussions about infrastructure finance innovation, per an event summary by the LBJ School professor and inaugural director of CMCM, Martin Luby. Luby himself, with a rich background in advising and a notable scholarly presence in the field of government financial instruments, voiced the importance of the center, “Developing the next generation of professionals and advancing research and dialogue on the municipal capital markets is especially salient given the huge infrastructure needs we have in the United States,” he told the University of Texas at Austin.

Moreover, the establishment of the 16-member advisory council brings together national leaders in the municipal capital, with the CEO of the Municipal Securities Rulemaking Board, Mark Kim, serving on the inaugural council. He exclaimed his approval of CMCM's comprehensive educational aim for students and government finance professionals, stating, “I am honored to serve on the inaugural advisory council for the launch of the Center on Municipal Capital Markets at the LBJ School of Public Affairs,” and applauded CMCM’s dual education mandate, as per the University of Texas at Austin.