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Singapore's sovereign wealth fund GIC has taken a 49% stake in München-based electric locomotive leasing company Railpool, joining funds managed by Oaktree Capital Management.
Railpool is ‘a high quality business with a strong track record and a proven business model’, said Stuart Baldwin, Head of Infrastructure at GIC. Founded in 2008, it currently leases 140 locomotives to various European operators and has another 40 on order.
Railpool said the deal would enable it to enter into new business areas and selectively make acquisitions. ‘We are confident that we are now ideally positioned to capture the full potential the rolling stock leasing market offers’, said CEO Torsten Lehnert. ‘Oaktree gave us the possibility to upgrade our operations and successfully grow our business while the additional investment of GIC is now securing the continuation of locomotive fleet expansion as well as investing in other growth markets.’
This article first appeared on www.railwaygazette.com
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