Electron synchrotron storage rings, such as the VUV ring at the National Synchrotron Light Source (NSLS), produce short pulses of infrared (IR) radiation suitable for investigating time-dependent phenomena in a variety of interesting experimental systems. In contrast to other pulsed sources of IR, the synchrotron produces a continuum spectral output over the entire IR (and beyond), though at power levels typically below those obtained from laser systems. The infrared synchrotron radiation (IRSR) source is therefore well-suited as a probe using standard FTIR spectroscopic techniques. Here we describe the pump-probe spectroscopy facility being established at the NSLS and demonstrate the technique by measuring the photocarrier decay in a semiconductor.