Arjun Infrastructure Partners is taking a 10% interest in UK’s largest passenger rolling-stock company from the Public Sector Pension Investment Board (PSP Investments).
Arjun, through one of its investment vehicles, is buying the stake in Angel Trains for an undisclosed amount.
Canadian pension investor PSP Investments, which has held an interest in Angel Trains since 2008, will remain the majority shareholder with a stake of 64.25%.
Angel Trains has a fleet of 4,400 vehicles, the majority of which are electric multiple units. Since 1994, Angel Trains has invested over £5bn in new rolling stock and refurbishment programmes.
Romain Py, a partner in Arjun Infrastructure Partners, said: “Angel Trains has excellent ESG credentials with sector-leading commitment to decarbonisation and innovation; and its ‘cradle-to-grave’ asset stewardship approach ensures fleets deliver their full potential throughout their asset lives.”
Richard Chang, managing director and head of Europe, infrastructure investments at PSP Investments, said: “This transaction forms an important part of our strategy to systematically optimize our portfolio by selectively capturing value from our portfolio companies and platforms.”
Malcolm Brown, CEO Angel Trains, said: “We look forward to the shareholders’ continued support to deliver our strategy to invest in and manage innovative and sustainable rolling stock to modernise and improve UK rail, meeting the evolving needs of today’s passengers.”
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