KKR Agrees to Sell Infinity Transportation to Ares
The $2.9 billion enterprise-value deal would transfer the Atlanta-based wagon and intermodal equipment lessor to Ares-managed funds.
Updated on Nov. 4, 2026 in Transportation
KKR has reached a definitive agreement to sell Infinity Transportation to Ares Infrastructure Equity and Ares Insurance Solutions funds at an enterprise value of approximately $2.9 billion. The transaction is subject to customary closing conditions and regulatory approvals.
Why it matters
The sale transfers ownership of a large rail wagon leasing business with a fleet of roughly 50,000 wagons and a broad customer base across North America. The deal reflects continued investor interest in transportation equipment leasing assets.
The deal carries an enterprise value of approximately $2.9 billion for a business that owns and manages about 50,000 wagons leased to more than 350 unique lessees across the USA, Canada and Mexico. Closing conditions and regulatory approvals remain outstanding, and the expected Q1 2027 close is a projection.
The players
KKR
KKR is a global investment firm that owns Infinity Transportation and is selling the company.
Ares Management
Ares Management is a global alternative asset manager whose Ares Infrastructure Equity and Ares Insurance Solutions funds are acquiring Infinity Transportation.
The details
Infinity Transportation, a full-service wagon and intermodal equipment leasing company founded in 2004 and headquartered in Atlanta, Georgia, is being sold by KKR. KKR's wholly owned subsidiary Global Atlantic has invested in Infinity since 2016.
Timeline
2016: Global Atlantic began investing in Infinity.
Q1 2027: The transaction is expected to close.
Market Landscape
The sale continues a pattern of large institutional funds buying North American rail and intermodal equipment lessors. The deal positions Ares-managed infrastructure and insurance capital in a leasing business with a broad lessee base across the USA, Canada and Mexico.
For shippers and rail operators leasing wagons, the change in ownership may affect lease terms and fleet availability once the deal closes. Customers should watch for any updates on servicing or contract changes after the expected Q1 2027 close.
The takeaway
Ownership changes in equipment leasing can reshape lessor priorities, so lessees should review contract terms as the transaction moves toward closing. Investors will be watching whether the asset base and customer relationships remain stable under new ownership.
Further reading
For more on logistics and equipment markets, see Transportation coverage.
Source note: This article includes information reported by Railway Gazette International.
