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GE and Credit Suisse are forming a joint venture to invest $1 billion in transportation infrastructure and energy assets worldwide.

Each company will commit $500 million to the joint venture, which will target railroad, port, toll road, airport, air traffic control, power generation and transmission, gas storage and pipelines, and water assets. Credit Suisse and GE plan to name a senior executive team to manage the joint venture.

Officials from both firms believe the joint venture — which will include GE Energy Financial Services and GE Commercial Aviation Services — can tap $500 billion in developed markets and $1 trillion in emerging markets during the next five years.

“This joint venture will help propel our international growth in serving the global need for trillions of dollars of investments to improve energy and transportation infrastructure,” said Dave Calhoun, vice chairman of GE Infrastructure, in a prepared statement.