Overview

• GATX and Brookfield Infrastructure formed a joint venture to acquire Wells Fargo’s rail leasing unit for $4.4 billion, covering about 105,000 railcars.
• GATX holds 30% of the JV and will manage the entire fleet while Brookfield owns 70% and separately takes on 23,000 railcars and 440 locomotives from Wells Fargo’s finance portfolio.
• The predominantly freight-car portfolio maintains a 97% utilization rate and features a diverse mix of car types.
• Financing for the deal includes a $3.2 billion five-year unsecured term loan and a $250 million revolving credit facility underwritten by Wells Fargo Securities, BofA Securities, MUFG and SMBC.
• Subject to regulatory approvals, the sale is scheduled to close by Q1 2026 and grants GATX an option to acquire full JV ownership within ten years.