APG acquires stake in Alpha Trains
APG has acquired an indirect 41.1% interest in Alpha Trains from Arcus European Infrastructure Fund 1 (AEIF1).
Alpha Trains provides rolling stock to train and locomotive operators under operating and finance leases, which provides train operators with the flexibility to respond dynamically and commercially to opportunities presented in the rail transport market, independent of long-term investment considerations. The Alpha Trains portfolio consists of more than 800 passenger trains and locomotives, including assets in procurement, on lease across Continental Europe (including Germany, France, Italy, Spain and Benelux) where it is the market leader amongst the privately-owned rolling stock lessors. The majority of the fleet is electric, making a significant contribution to the decarbonisation of Europe’s transport sector.
Peter Branner, CIO of APG, said: “The investment in Alpha Trains Group perfectly fits our investment strategy: Alpha Trains’ fleet of mostly electric trains and locomotives promotes sustainable, low carbon mass transport within Europe while also offering access to a long-term business model with strong growth and resilient cash flows. We are excited to be part of the ongoing European rail liberalisation process, where significant investment is required for new vehicles to increase rail’s share of the European transportation market and the replacement of ageing infrastructure to contribute to Europe’s greenhouse gas reduction targets.’
Simon Gray, Arcus Co-Managing Partner, added “We consider this an appropriate time for AEIF1 to exit its interest in Alpha Trains and believe that APG, via its indirect holding, will be an excellent partner, continuing to support Alpha Trains’ growth.”.
AEIF1 and Alpha Trains participate in the annual GRESB survey – a leading Environmental, Social and
Governance (ESG) benchmark for infrastructure investments across the world – and have been ranked first among their peers in the global diversified infrastructure funds and rolling stock asset class categories, respectively.