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Investor group completes Porterbrook acquisition

AIMCo, Allianz Capital Partners, EDF Invest and Hastings have closed its buy of Porterbrook, a UK-based rolling stock leasing company. No financial terms were disclosed.

PRESS RELEASE

CALGARY, Oct. 29, 2014 /PRNewswire/ – A global consortium including Alberta Investment Management Corporation (“AIMCo”), Allianz Capital Partners (“ACP”), EDF Invest and Hastings Funds Management (“Hastings”) completed the acquisition of Porterbrook Rail Finance Limited (Porterbrook), the UK rolling stock company.

Porterbrook is one of three main rolling stock companies (ROSCOs) in the UK that owns and leases a fleet of passenger and freight rolling stock to Train Operating Companies and Freight Operating Companies under long term contracts. It owns 32 per cent of total passenger rolling stock in the UK.

“We are excited by the growth opportunities Porterbrook presents. With continued urbanisation, rail passenger demand is expected to increase further, which will drive continued demand for existing and new rolling stock”, said the Consortium. “Porterbrook fits well with our investment strategies as long-term investors.”

London, October 23, 2014

About Alberta Investment Management Corporation
Alberta Investment Management Corporation is one of Canada’s largest and most diversified institutional investment fund managers, managing an investment portfolio of approximately C$80 billion. AIMCo was established in 2008 to invest for superior long-term investment results for its 27 pension, endowment and government clients in Alberta, including the Alberta Heritage Savings Trust Fund.

About Allianz Capital Partners
Allianz Capital Partners is the Allianz Group’s in-house investment manager for alternative investments investing only the capital of Allianz insurance companies. With offices in Munich, London, New York and Singapore Allianz Capital Partners manages around EUR 10 billion of alternative assets. The investment focus is on direct investments in infrastructure and renewable energy as well as private equity fund investments. ACP’s investment strategy is targeted to generate attractive, long-term and stable returns while diversifying the overall investment portfolio for the Allianz Group insurance companies.

About EDF Invest
Created in July 2013, EDF Invest is the unlisted investment arm of EDF’s Dedicated Assets, the asset portfolio which covers its long-term nuclear decommissioning commitments in France. EDF Invest targets three asset classes: Infrastructure, Real Estate and Private Equity. Its Infrastructure portfolio already includes a 50% stake in RTE, the French electricity transmission company, as well as a 20% stake in TIGF, the French gas transport and storage company acquired in 2013 from Total.

About Hastings
Hastings is a specialist manager dedicated to transforming global infrastructure investment opportunities to deliver long-term value for its investors. With almost two decades of experience, it is one of Australia’s longest-running infrastructure managers. From its headquarters in Melbourne, Hastings has built a global footprint with offices in Sydney, Singapore, London and New York now collectively employing approximately 100 professional staff. It currently manages approximately A$9.2 billion across a number of funds and mandates. Hastings’ clientele totals some 70 institutional investors. The Hastings asset portfolio predominantly comprises utilities, airports, toll roads and seaports in Australia, the UK, Europe and the US. The primary focus is on building a diversified portfolio of equity and debt-based infrastructure investments. The Hastings team covers asset finance, business development, client services, portfolio construction, origination, and infrastructure investing. Hastings’ investment in Porterbrook is being made by Utilities Trust of Australia, The Infrastructure Fund and a separately managed account, which are all managed by Hastings.