Dutch pension provider APG acquires further 20.9% stake in Alpha Trains

Dutch pension provider, APG, has agreed the acquisition of a further 20.9 per cent stake in Alpha Trains from AMP Capital on behalf of its pension fund clients.

APG already owns a 41.1 per cent indirect interest in the business that was acquired in 2019.

In a separate transaction, one of Canada’s largest pension investment managers, the Public Sector Pension Investment Board, agreed to sell its stake in the firm to PGGM Infrastructure fund.

APG said that its investment is in line with its sustainable investment strategy as the majority of its fleet of trains are electric.

Alpha Trains CEO, Shaun Mills, commented: “I would like to thank AMP Capital and PSP Investments, our two exiting shareholders, for their support over the last 12 years and I look forward to working with our new shareholders, APG and PGGM Infrastructure Fund, alongside existing shareholder Arcus, to continue to grow and develop the Alpha Trains business.”

APG head of infrastructure Europe, Arjan Reinders, said that Alpha Trains had an “attractive and diversified” portfolio of assets that generate long-term and resilient cashflows, which “fits perfectly” with the requirements of its pension funds clients.

PGGM Infrastructure Fund head of infrastructure, Erik van de Brake, added: “Alpha Trains is a valuable addition to the growing PGGM Infrastructure Fund.

“We expect the company to continue its strong performance and generate long-term stable revenues for the fund’s participants, including Pensioenfonds Zorg en Welzijn, who are working towards a more sustainable investment portfolio.

“This investment enables long-term pension capital to support the growing demand for sustainable ways of transport in Europe.’’

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