Infracapital, the infrastructure equity investment arm of M&G, has entered Germany’s rolling stock market through a partnership with Rock Rail.

Infracapital and Rock Rail have set up a platform to finance a fleet of 18 four-car Siemens Mireo electric trains procured for the Leipzig Central German S-Bahn Network 2025+ project.

The fleet will enter into service in December 2026 and will be initially leased to DB Regio AG as operator for a period of 12 years. 

The deal which marks Infracapital’s third investment in Germany is the infrastructure manager’s first rolling stock transaction in the country. It already has expertise in managing transport and rail assets in the UK.

Rock Rail, is an independent developer, owner and asset manager of rolling stock and other rail infrastructure.

Priya Veerapen, managing director at Infracapital, said: “This partnership with Rock Rail will support Infracapital’s mission to invest in infrastructure assets which are key to Europe’s sustainable future.

”Germany’s liberalised rolling stock market sits at an exciting crossroad as the country seeks to double passenger rail numbers by 2030. We see a strong pipeline in the years ahead as government agendas in the UK and Europe are increasingly focused on delivering improved and cleaner public transport systems for a growing passenger base.”

Mark Swindell, chief executive officer at Rock Rail, said: “Rock Rail has been working in Germany since 2018 and has strong relationships with all the German regional public authorities, operators and manufacturers.

“We are delighted to have worked on our second deal in Germany with Infracapital and Munich Re to lease Siemens Mireo trains to DB Regio in the beautiful city of Leipzig.”

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