GATX to manage wagon fleet
USA: Asset leasing company GATX Corp has purchased a 12·5% stake in Adler Funding LLC, a newly-created entity which has acquired a fleet of 5 350 wagons.
GATX will manage the portfolio on behalf of the financial institutions which own the remainder of the firm.
'This opportunity demonstrates GATX's leading industry position and strategy of investing at attractive valuations,' GATX President & CEO Brian A Kenney said on October 15. 'As an owner and manager, we can generate an attractive return for both our partners in Adler and GATX's shareholders.'