KfW IPEX-Bank supports further growth of RIVE Private Investment and Northrail in the rail business

Paris, January 9, 2025 RIVE Private Investment, an independent European investment company, is further strengthening its position in the railway sector by structuring an additional €270 million senior financing under a Growth Facility secured in October 2023 totalling €570 million raised to date. This CAPEX facility is provided by a bank pool consisting of KfW IPEX-Bank (also acting as Facility and Security Agent), Crédit Agricole Corporate and Investment Bank, Société Générale, and Siemens Financial Services through Siemens Bank as historical lenders, alongside Crédit Industriel et Commercial, Deutsche Bank, Helaba and La Banque Postale joining the consortium.

This financing will further support the growth of the RIVE/Northrail rolling stock leasing platform, enabling it to acquire over 100 additional locomotives secured under various existing framework purchase agreements signed with leading manufacturers Siemens, Alstom and Vossloh Rolling Stock. Upon their delivery, between 2025 and 2028, these electric, hybrid and dual-mode locomotives will be leased to European rail freight operators and managed by Northrail, a leading manager of rolling stock in Europe, acquired by RIVE in 2024.

This landmark financing allows RIVE to secure senior funding for the coming years and to successfully deploy its investment strategy in the railway sector. RIVE and Northrail continue supporting both their clients in renewing and growing their fleet towards a more sustainable business model, and manufacturers in the development of innovative products fostering the decarbonization of the sector.

Camille Brunel, Partner at RIVE Private Investment, said: “The rail industry holds a key position in developing sustainable mobility and transportation solutions. However, it faces significant funding demands for the renewal and growth of asset fleets, presenting an appealing opportunity for lenders and investors. This transaction with our banking partners and Northrail represents a crucial strategic milestone in expanding our portfolio of impactful transport assets.”

Michael Trentzsch, Chief Investment Officer of Northrail, said: “We are delighted to continuously deliver our trusted and high-quality asset selection and management services to our valued investment partner RIVE. By leveraging our extensive experience and strong relationships with OEMs, lessees and maintenance providers, we ensure a seamless process and tangible results. This positions us to confidently provide economically robust, secure, and long-term value to RIVE and its banking partners, reinforcing our commitment to excellence in every aspect of the partnership.”

About RIVE Private Investment
RIVE Private Investment is an independent European investment firm specialized in transportation assets and energy transition. Founded in 2013, RIVE currently manages over EUR 1 billion and has completed more than 100 transactions. The RIVE team consists of 27 professionals based in Paris, Luxembourg, and Geneva.

RIVE, through its RIVE Transportation Assets Income Fund (RTAIF), invests in assets contributing to the decarbonization of the transportation sector and/or serving essential needs, such as railway rolling stock, aviation for critical missions (medical, firefighting, and rescue, etc.), and specialized maritime (electric ferries, support for offshore wind parks, etc.). Since its launch in mid-2021, RTAIF has deployed over EUR 300 million in 10 countries.

About Northrail
Northrail, headquartered in Hamburg, Germany, is a leading leasing provider and asset manager of rolling stock in Europe. Northrail manages a portfolio of approximately 430 vehicles, including around 250 locomotives and around 180 multiple units and passenger coaches, for freight and passenger transport in Europe, with an investment volume of close to EUR 1.5 billion.

In addition, Northrail develops and structures innovative railway investments with and for international partners and institutional investors. The fleet under Northrail’s management includes traditional shunting and universal mid-cap locomotives as well as state-of-the-art electric and hybrid locomotives and battery-electric regional passenger trains. In addition, Northrail develops tailor-made rental services for its customers and organizes the maintenance of the vehicles.