KKR Sells Railcar Lessor Infinity Transportation to Ares for $2.9 Billion

✦ Meridian Analysis

KKR has signed an agreement to sell its railcar lessor, Infinity Transportation, to Ares Management at an enterprise value of approximately $2.9 billion. The transaction involves the acquisition of an asset that owns and manages approximately 50,000 railcars leased to over 350 customers across the US, Canada, and Mexico. The buying entities are the Ares Infrastructure Equity fund and the Ares Insurance Solutions fund. In transactions of this scale involving physical asset lessors, market participants typically examine fleet utilization rates, lease duration profiles, and the composition of the customer base across North American freight corridors. The transaction is expected to close in the first quarter of 2027, remaining subject to customary closing conditions and regulatory approvals. Financial advisory roles include Macquarie Capital advising KKR and Citi advising Ares, while Simpson Thacher & Bartlett LLP acts as legal counsel to KKR and Kirkland & Ellis LLP serves as counsel to Ares. No specific debt financing package or lenders were disclosed in the announcement.

Additional sources: KKR to sell railcar-leasing company Infinity to Ares for $2.9 ... · KKR to Sell Infinity Transportation to Ares for $2.9 Billion · Exclusive | KKR to Sell Railcar-Leasing Company Infinity to Ares for $2.9 Billion - WSJ · www.reuters.com - viewing lines [0 - 3] of 3 · www.reuters.com - viewing lines [0 - 3] of 3

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