Abrdn Core Infrastructure, Rock Rail and Alstom have delivered their second European investment together, with the closing of a sale and leaseback transaction of 31 new 6-car Talent 3 Plus electric powered trains.
These units are for the Baden-Württemberg and Saale-Thuringia-Südharz (STS) networks in Germany.
“The Talent fleets are well-established and a popular product in Germany with a track record of delivering a reliable and high-quality passenger experience since the 1990s,” said Abrdn.
Strengthening Abrdn’s presence in the German rolling stock market, this investment also contributes to the country’s ambitious environmental targets and is the sixth deal that Abrdn and Rock Rail have closed together since partnering ten years ago.
This also marks the seventh investment by Abrdn’s third Core Infrastructure Fund, ASCI III, which is currently fundraising and investing in the pan-European infrastructure mid-market and is categorised Article 8 under SFDR.
Nick Flynn, Investment Director, Abrdn, said: “This represents the sixth major investment in passenger trains for the Abrdn Core Infrastructure team, where we have raised over €3.5 billion of new investment into UK and European rail infrastructure, improving the environmental credentials of rail travel and delivering a higher quality passenger experience. We are committed to delivering safe and reliable essential infrastructure to local communities and we appreciate all the parties’ involvements and efforts in successfully reaching financial close.”
Henry Swindell, Investment Director, Rock Rail, said: “We are pleased to announce our fourth major rolling stock acquisition in Germany. The transaction is further proof of the continued recovery in the transport sector, which has seen disruption and change aplenty in recent years. The trains are already making a difference, delivering flexibility to service operations and a step change in the passenger experience. Now begins the hard work to bring the remaining trains into service at a high-performance level.”
Christoph Klaes, Vice President Customer Management, Alstom, said: “We are delighted that Rock Rail and abrdn have opted for the Talent 3 Plus. The trains provide a state-of-the-art passenger experience, a high level of comfort and ample capacity for the growing demand for sustainable transport in Baden-Wuerttemberg. Thanks to Alstom’s ETCS solution, the fleet will be well-equipped for the ongoing digitalisation of rail traffic.”