HedgeCo.Net — InfraRed Capital Partners on September 28, 2026 said InfraRed-managed funds agreed to acquire 100% of Hector Rail AB, Scandinavia’s largest privately owned rail freight operator, from Ancala, according to Hector Rail’s press release. Listed infrastructure fund HICL said it is investing about £68 million alongside other InfraRed-managed funds in the transaction, Sharecast and TipRanks reported.
Hector Rail, founded in 2004, operates across Sweden, Norway, Denmark and Germany with just over 300 locomotive drivers and more than 100 locomotives, focusing on rail freight including lumber, steel, energy products and containers. Ancala’s exit follows a roughly six-year ownership period that began in 2020.
Company materials cited in coverage put InfraRed’s managed equity capital at about US$13 billion and Ancala’s AUM at roughly €5 billion. The deal remains subject to customary regulatory conditions and is expected to complete in late 2026.
For infrastructure and listed-fund LPs, the hard marks are the 100% Hector Rail acquisition by InfraRed-managed funds, HICL’s about £68 million equity commitment, Ancala’s exit after a roughly six-year hold, and late-2026 expected completion subject to regulatory conditions. Do not invent enterprise value or leverage figures beyond the named equity commitment.