PRESS RELEASE - Paris, 17 October 2016
YOUR OPERATIONAL LEASING SOLUTION
Touax Group develops its asset management activities in partnership with the Fund "Touax Investment SCA"
Touax Rail Limited is very pleased to announce the first acquisition by Touax Investment SCA of a €56 million European railcar portfolio (including €26 million acquired this week and €30 million in the coming weeks). Touax Rail acting as operating partner for the fund will manage the railcars.
Touax Investment SCA is an open ended Luxembourg SICAV-SIF offering to well informed and qualified investors an opportunity to invest in an innovating investment fund of real assets respecting sustainable development (freight railcars, river barges and containers). The equity for the first Euro sub-fund (ISIN code LU1336272270) is in place with 35 investors and 5.5 year term financing of €54 million plus €18 million of VAT financing provided by DVB Bank as agent and lender and KfW IPEX- Bank as lender.
Out of the €56 million portfolio, Touax Rail pre-financed and will sell €20 million of wagons, the balance being acquired from other sources.
The SICAV-SIF's objective is to offer a stable 5% annual return with low volatility, while aiming for an overall objective above 8%. The investment in real assets brings a diversification from traditional investment products and provide a hedge against future inflation. Quilvest Asset Management is the AIFM Manager of the SICAV-SIF, Société Générale Bank & Trust is the depository bank, the transfer agent and the fund administrator and Deloitte Audit S.à r.l. the réviseur d'entreprises agréé.
The SICAV-SIF launched an additional equity raise of €35 million to purchase a second portfolio of
€55 million European railcars.
The SICAV-SIF also launched the USD sub-fund with a targeted equity raise of USD60 million in order to finance a portfolio of USD150 million assets (mainly new containers). Touax SCA through its subsidiary Touax Container Leasing Pte Ltd will act as operating partner and has been mandated to source, lease and manage the portfolio.
Fabrice & Raphaël Walewski
Tel: +33 (0)1 46 96 18 00
Tel: +33 (0)1 55 88 11 11