APG and PGGM boost clean transport exposure with Alpha Trains investment

On the 01/14/21 at 7:39AM


Adrien Paredes-Vanheule

AMP Capital and PSP Investments have sold their stakes in the European rolling stock lessor.

Dutch pension fund providers APG and PGGM on Wednesday acquired stakes in European rolling stock company Alpha Trains. The firm provides leasing solutions to train and locomotive operators across 17 European countries. It manages a fleet of 855 trains and locomotives, mainly electric, thus participating to the clean energy transition in European rail.

Under the terms of the deal, infrastructure manager AMP Capital has agreed to sell its stake in Alpha Trains to APG, which already held an indirect interest in the company. In a separate transaction,  Canadian pension investment manager, the Public Sector Pension Investment Board (PSP Investments), has also agreed to sell its stake in Alpha Trains to PGGM Infrastructure Fund. Both AMP Capital and PSP Investments were shareholders of Alpha Trains since the firm's establishment in 2008, alongside another shareholder Arcus.

Adam Petrie, head of transport and head of asset management, Europe, AMP Capital, said, “Alongside our co-shareholders and management team, we are proud to have driven the development and growth of Alpha Trains from its inception to become the leading European rolling stock company. Throughout this time Alpha Trains has capitalised on the liberalization of the European rail industry while delivering market leading ESG performance. Alpha Trains is a high-quality business with an important role in the future of European rail and we wish the business continued success.”

Commenting on the transaction, Arjan Reinders, head of infrastructure Europe, APG, praised the excellence of Alpha Trains' business with its strong position in the Continental European rail market. Erik van de Brake, head of infrastructure, PGGM added, “Alpha Trains is a valuable addition to the growing PGGM Infrastructure Fund. We expect the company to continue its strong performance and generate long-term stable revenues for the fund’s participants, including Pensioenfonds Zorg en Welzijn, who are working towards a more sustainable investment portfolio. This investment enables long-term pension capital to support the growing demand for sustainable ways of transport in Europe.’’