PGGM (non-profit cooperative pension administration organization) Infrastructure Fund has entered into an agreement with the Canadian pension investor Public Sector Pension Investment Board (PSP Investments) for the acquisition of a large minority stake in train leasing company Alpha Trains. Luxembourg-based Alpha Trains is the European market leader in passenger train and freight train leasing, with operations in XNUMX countries. With this investment, the PGGM Infrastructure Fund expands its transport portfolio, now consisting of transport concessions, metro lines, railway lines, toll roads and aircraft leasing, with train leasing. The interest in Alpha Trains is in line with the Fund's strategy to expand investments in sustainable transport in the coming years.
Alpha Trains is the largest passenger train leasing company in Europe and number two in the freight locomotive leasing market. Most of the turnover comes from lease contracts for electrically powered trains. The company is well positioned to respond to government and EU policies to increase freight transport by rail and expects the liberalization of the passenger rail market in Europe to lead to further growth.
Erik van de Brake, Head of Infrastructure at PGGM: “Alpha Trains is a great addition to our growing PGGM Infrastructure Fund for several reasons. The company provides a stable and good return for our clients such as Pensioenfonds Zorg en Welzijn, who have the ambition to make their investments more sustainable. This investment will make long-term pension capital available to finance the growing demand for sustainable forms of transport ”.
Germany is the most important market for Alpha Trains, followed by the Benelux countries, France, Spain and Italy. In the Netherlands it has the Dutch Railways as a customer. Abellio is also an important customer. This is a subsidiary of the Dutch Railways that has public transport concessions in various European countries. Alpha Trains was the first private company in the rolling stock leasing market to issue green bonds in 2017 to finance its sustainability program, purchasing 63 electric multiple units. This reports PGGM on their website.
Also read: Temporary trial of night train Vienna to Amsterdam postponed
