A group of institutional investors managed by infrastructure specialist AMP Capital have acquired a majority stake in Angel Trains, the UK’s largest rolling stock company.
The investors include a subsidiary of the Abu Dhabi Investment Authority, an Asian institutional investor, Pension Danmark and Swiss Life Asset Managers. AMP Capital already held a 25% stake in the rolling stock provider before purchasing an additional stake from Arcus European Infrastructure Fund 1. AMP Capital global head of infrastructure equity, Boe Pahari, commented: “I am delighted to have secured a majority stake in Angel Trains, one of the UK’s leading train leasing specialists, on behalf of our clients. We have come to know the asset very well during our seven years of ownership and we and our investors like its long-term contracted revenue, stable cash flows and strong growth opportunities.”
Angel Trains is now the largest asset in AMP Capital’s global infrastructure fund. AMP Capital has invested in the rolling stock provider, which has a fleet of around 4,500 vehicles, since 2008, and said that its global infrastructure platform has now reached half its target size of US$2 billion.