PIC invests £38m in freight and railcar leasing company Street Group

Written by Adam Cadle

09/08/2023

PIC has invested £38m of debt in freight and railcar leasing company, Streem Group, supporting its global decarbonisation strategy.

PIC’s latest investment represents an ongoing commitment to invest across transportation assets that support greater cost efficiencies and less carbon intensive operations. Streem Group is one of the leading players in freight transportation with more than 46,000 railcars and 80,000 containers in its fleet globally.

Vladan Martinovic, senior debt origination manager at PIC, said: “Investing in these transportation assets will support the shift of freight traffic from road to rail, further reducing the production of carbon dioxide.”

Florence Carasse, head of infrastructure debt at PIC, added: “We are delighted to have been able to make our first freight leasing investment, in Streem Group. Investing in transportation infrastructure in this way helps us to fulfill our purpose, which is to fund the pensions of our current and future policyholders now and in the long term.”

The transaction was arranged by Société General and BNP. Latham & Watkins provided legal advice to PIC.

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