Alpha Trains
Alpha Trains is a leading rolling stock lessor in Continental Europe. Over 150 employees from 20 countries work in offices in Luxembourg, Antwerp, Cologne, Madrid, Warsaw and Paris. Alpha Trains owns more than 1,000 locomotives and passenger trains and offers tailor-made leasing solutions, comprehensive know-how in maintenance and vehicle repairs as well as long-term experience in the financing of new build projects. Alpha Trains' fleets are in use by public and private operators in over 20 European countries.
Why did we invest?
Our investment in Alpha Trains was made to gain exposure to:
- A leasing model that enables rail operators to access modern rolling stock without having to finance and own entire fleets directly
- An established market position and scale across European rail markets, supporting operational resilience and continued investment
- Support the continued modernization and expansion of European rail transport
How does it fit the 3D Framework?
The investment supports PGGM’s 3D objectives through the following characteristics:
- Contracted lease revenues from a diversified base of rail operators support long-term financial outcomes
- The leasing model limits direct exposure to passenger and freight volumes, while diversification across operators, countries and rolling-stock types supports resilience to changing market and environmental requirements
- Contribution to positive sustainability outcomes by supporting the transition from road to rail and by investing in electric, dual-mode and battery-electric rolling stock that reduce transport sector emissions
