By Andrew Corselli, Managing Editor, Railway Age Magazine; August 27, 2019
Global infrastructure investor First State Investments (FSI) has reached an agreement with SteelRiver Infrastructure Partners to acquire 100% of the equity of Patriot Rail and Ports, which operates a portfolio of 12 short line freight railroads with more than 585 track-miles across 14 states in the U.S. Terms of the deal were not disclosed.
Jacksonville, Fla.-based Patriot represents the initial unlisted infrastructure investment in the U.S. by FSI, which manages more than $8 billion of unlisted infrastructure investments across the United Kingdom, continental Europe, Australia, New Zealand and North America, with a focus on mid-market companies in the transportation and utility sectors worldwide.