HICL Infrastructure has agreed to acquire a minority equity position in Cross London Trains.
Cross London Trains owns a recently delivered fleet of rolling stock operating on the Thameslink passenger rail route which covers the North-South London commuter rail corridor and serves both Luton and Gatwick airports.
Following completion of the transaction, Cross London Trains will represent approximately 3% of HICL’s portfolio by value and will be HICL’s third investment in the rail sector, after High Speed 1 and the Dutch High Speed Rail Link.
Completion is expected in Q3 2022.
Edward Hunt, head of core income funds at InfraRed said: “Cross London Trains is one of the largest rolling stock fleets in the UK. Its electrified trains are modern and efficient, sustainably serving the needs of commuting and leisure travellers alike. This investment further contributes to the delivery of HICL’s vision to connect communities through investments in core infrastructure, while delivering long-term income to shareholders.”