HICL Infrastructure buys stake in Scandinavian rail freight operator

HICL Infrastructure PLC on Monday said it has agreed to invest around £68 million for a 42% stake in Hector Rail, the largest private rail freight operator in Scandinavia.

HICL is investing alongside other funds managed by InfraRed Capital Partners Ltd, which together will acquire 100% of Hector Rail from infrastructure investment manager Ancala Partners LLP.

The investment will be funded from available cash and is expected to complete by December 31, subject to customary consents.

It marks HICL's first 'Enhancer' investment under its revised strategy and is expected to represent around 2.3% of its portfolio by value. HICL said the acquisition supports its target of total annual returns of more than 10% over the medium term.

InfraRed Head of Core Income Funds Edward Hunt said: "We are delighted to announce HICL's first Enhancer investment, marking an important milestone in the evolution of the company's strategy.

"Hector Rail is a high-quality infrastructure business with a strong position in the Scandinavian rail freight market, supported by clear opportunities for value creation. The investment demonstrates HICL's disciplined approach to selectively enhancing returns for shareholders while remaining focused on essential infrastructure."

Shares in HICL were unchanged at 133.60 pence on Monday morning in London.

Copyright 2026 Alliance News Ltd. All Rights Reserved.