NEW YORK & ATLANTA – September 29, 2010 – Infinity Transportation, LLC today announced the acquisition of a portion of GE Capital’s domestic intermodal chassis fleet, making Infinity Transportation a leading lessor of domestic intermodal chassis in the industry. Financial terms of the transaction were not disclosed.
Infinity Transportation is owned by certain funds within Perella Weinberg Partners’ Asset-Based Value strategy and Infinity management. Infinity Transportation invests in rail, intermodal, trucking and other freight transportation-related assets. As a result of this transaction, Infinity Transportation will own approximately 21,000 domestic intermodal chassis that are deployed in the North American rail industry.
David Schiff, Partner at Perella Weinberg Partners and Portfolio Manager of the Asset-Based Value strategy, stated, “This transaction represents a compelling opportunity for Infinity Transportation. It enhances our railfocused portfolio and establishes the company as a leading provider of chassis solutions in the intermodal leasing marketplace, a space we believe has promising opportunities.”
Jeff Edelman, President of Infinity Transportation, stated, “This acquisition allows Infinity Transportation to expand its role in the intermodal marketplace, a market segment that we believe will experience considerable growth over the next several years.”
Joseph Lattanzio, head of GE Capital’s rail and intermodal leasing business, stated, “We see this transaction as good for the intermodal industry’s customers as Infinity is well positioned to serve and grow in this segment of the intermodal market.”
Perella Weinberg Partners’ Asset-Based Value strategy focuses on investing in assets with favorable valuations and contractual rights to cash flows. Assets targeted for investment are physical assets, including railcars, vessels and commercial real estate; financial assets, such as auto loans, franchise loans and credit card receivables; and/or intangible assets.
Through this transaction, Infinity Transportation continues to expand its rail leasing and investment effort to include other transportation related assets. The predecessor funds, Infinity Rail I and II, have accumulated approximately 7,000 railcars leased to various railroads and shippers.
About Perella Weinberg Partners
Perella Weinberg Partners is a leading independent, client-focused financial services firm that provides corporate advisory and asset management services to clients around the world. Launched in 2006, the Firm is a private limited partnership with approximately 315 employees recruited from a wide variety of leading financial institutions.
With over 100 employees, the Firm’s asset management activities include a suite of hedge fund strategies, private capital and a multi-manager business. Investments made through these strategies include most major asset classes on a global basis, including equities, fixed income, asset based securities, distressed securities, private investments, and real estate. The global asset management business, including affiliates, has capital commitments and managed assets of over $6.0 billion.
The Firm has offices in London, New York, Austin, Denver, San Francisco and Abu Dhabi. Biographies and additional information are available at www.pwpartners.com.
About Infinity
Infinity Capital Partners, LLC is an Atlanta, Georgia based manager of alternative investment products. Its two-pronged approach to the market includes Infinity Capital, a hedge fund of funds business, and Infinity Asset Management, a separate and distinct hard-asset management business.
Infinity Asset Management is a hard-asset manager specializing in providing equipment leasing and capital solutions in the broad transportation sector. Infinity Rail staff has extensive experience in the rail industry, and individually are specialists in financing, full service leasing and mechanical maintenance as well as railcar tracking, processing and operations. Infinity Transportation is the planned expansion of the rail platform that now includes investment in and management of other similar asset classes.
The Firm has offices in Atlanta and Boston. Additional information is available at www.infinityfunds.com.
Perella Weinberg Partners Media Contacts:
Kara Findlay
Perella Weinberg Partners
212-287-3197
Denise DesChenes / Renée Soto
Sard Verbinnen & Co.
212-687-8080
Infinity Transportation Contact:
Paul Goss
978-283-5115
pgoss@infinityfunds.com