KKR has agreed to sell Infinity Transportation to Ares Management in a $2.9bn transaction, closing a decade-long investment in one of the US's largest railcar leasing platforms. The acquisition will be executed by funds managed by Ares Infrastructure Equity and Ares Insurance Solutions. KKR's involvement began through Global Atlantic, which first invested in 2016.
After becoming a Global Atlantic subsidiary by December 2020, Infinity completed a $228.1m purchase of CAI International's remaining railcar fleet. KKR acquired a majority stake in Global Atlantic in 2021 and the remaining 37% in January 2024. Under KKR's ownership, Infinity evolved from an asset portfolio into a fully fledged operating company, establishing a standalone platform and expanding its fleet.
The company's book value has grown by 150% and it now owns and manages approximately 50,000 railcars leased to over 350 customers across the US, Canada, and Mexico.
Source: PE Insights · Summarized by HeadlinesBriefing