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Contract and Asset Management of the Lease of 54 x Alstom Lint 41 DMUs

3i acquired a portfolio of 54 x Lint 41 DMU trains in 2019 which run on a 14 year Lease and which benefit from a conditional Residual Value Guarantee (“RVG”) issued by the Public Transport Authorities under the leadership of NASA in Saxony-Anhalt. The operator entered into a full-service maintenance agreement with VIS in Halberstadt.
Client's profile
3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in northern Europe and North America. The DISA investment was made by 3i European Operational Projects Fund.
Apex Rail, who already advised the initial owner NSFSC of the DISA fleet in the sale of the portfolio as exclusive financial advisor is acting as the Contract and Asset Manager for the Lessor since 2019.
Here Apex Rail manages the contractual relationships between the Lessor with the Lessee, PTA, VIS and Alstom as the rolling stock manufacturer. Apex Rail is representing the Lessor in the Controlling Group, which has been set up by the PTA to manage the obligations under the RVG.
In addition Apex Rail reports to the Lessor and Lenders into the SPV on a regular basis and manages the various contractual obligations under the Lease and RWG including a Lessee/Operator replacement caused by an early termination of the concession leading to complex contractual arrangements with all parties as the trains are returned early and handed over to a subsequent operator – all prior to the contractual lease end. It shows that Apex Rail is also capable of dealing with special situations.

Markus Fröhlich

Managing Director in Apex Rail
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