CHICAGO, March 4, 2016 /PRNewswire/ -- Three Chicago-based investors, affiliates of Allstate, Duchossois Capital Management, and CC Industries, Inc., announced today the formation of a new freight railcar leasing company, Riverside Rail. Earlier this week the investor group acquired 2,032 railcars. The diversified railcar fleet includes a mix of covered hoppers, coal cars, mill gondolas, boxcars and centerbeams.
The investor group believes railcar leasing represents an attractive long-term investment and seeks to grow this initial railcar investment into a larger railcar leasing fleet. Riverside Rail plans to build a full-service leasing and management services company over the next several years.
BMO Harris Bank led a credit facility for the railcar acquisition, and Vedder Price served as legal counsel to Riverside Rail. Terms of the transaction were not disclosed.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, protecting approximately 16 million households from life's uncertainties through auto, home, life and other insurance. Allstate Investments has decades of experience pursuing strategies in a broad array of asset classes and geographies in both the public and private markets. For more information on the company's investments focus, visit www.allstateinvestments.com.
Duchossois Capital Management (DCM) is a private investment firm owned by the Duchossois family. DCM invests across various stages of a company's development from growth stage to later stage, utilizing its unique form of capital to make investments in public and private companies and private investment funds, and to partner with funds and other families in co-investment opportunities. For more information on DCM, visit www.dcmllc.com.
CC Industries, Inc. operates under the umbrella of Henry Crown and Company as its holding and management vehicle for investments in privately-held operating businesses.
Please direct media inquiries to:
DUCHOSSOIS CAPITAL MANAGEMENT
CC INDUSTRIES, INC.
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SOURCE Riverside Rail