The public-private partnership that funded the nearly three-year, $15 million effort to fix the earthquake-damaged Washington Monument should be a model for future projects, billionaire David Rubenstein said in a CNBC interview Monday—the day the iconic obelisk reopens to visitors.
Rubenstein matched the federal funding of $7.5 million to expedite the renovation, following damage from a rare D.C.-area quake in August 2011.
"I think the Washington Monument is a symbol of our country in many ways, and it's a beacon to liberty and a beacon to freedom, and therefore I thought it was a good thing to support," the co-founder of private equity giant The Carlyle Group said in the interview with "Squawk Box."
"I initially said I would put up all the money. Then I think the parks service felt it should be done as a public-private partnership because Congress thought it should have some role."