KKR has launched a new European rail leasing platform through a strategic partnership with Vienna-based Green Mobility Partners, marking a significant private capital move to accelerate rail electrification and modernisation across Europe.
Under the agreement, KKR has acquired a majority stake in Green Mobility Partners (GMP), providing capital and strategic support to scale the company’s locomotive fleet and expand its presence across continental European freight and passenger rail markets. The investment is subject to customary regulatory approvals.
Scaling a European rail leasing platform
Founded in 2024, GMP leases electric locomotives to rail operators across Europe, supporting the sector’s transition away from diesel traction. The company exclusively leases Siemens Vectron electric locomotives and plans to expand through a combination of organic growth and targeted acquisitions.
The partnership with KKR is intended to transform GMP from a young entrant into a scaled European rail leasing platform, capable of meeting rising demand for flexible, capital-efficient access to electric rolling stock. Leasing models are increasingly seen as critical to accelerating fleet renewal, particularly for operators facing high upfront costs and ageing assets.
Christoph Katzensteiner, Founder and CEO of Green Mobility Partners, said: “Europe’s rail infrastructure requires significant modernisation to meet its decarbonisation objectives. I am delighted to partner with KKR to help address these needs and build a leading European rail leasing platform. With KKR’s support and our established relationships with both operators and manufacturers, GMP is ideally positioned to provide the flexible, sustainable infrastructure solutions that Europe’s rail sector urgently needs as it transitions to a low-carbon future.”
Private capital meets rail decarbonisation
Europe’s rail network continues to rely heavily on older rolling stock, with diesel locomotives still prevalent on parts of the network. At the same time, EU climate and transport policies are increasing pressure to decarbonise mobility and shift freight and passenger traffic toward rail.
KKR’s investment reflects a broader trend of infrastructure funds targeting transport assets aligned with energy transition goals.
Vincent Policard, Co-Head of European Infrastructure at KKR, said: “KKR has a strong track record of supporting projects tackling decarbonisation in some of the most challenging industries. Rail is at a critical moment in Europe, with an ageing fleet that faces significant challenges to modernise. Christoph is a trusted founder who knows these challenges better than anyone, and crucially, how to address them. GMP combines a resilient, contract-backed business model with powerful secular tailwinds in both locomotive and passenger rail leasing. By providing flexible capital solutions and leveraging our global infrastructure expertise, we can support GMP’s growth and contribute to Europe’s sustainable transport infrastructure.”
DACH focus and regional infrastructure priorities
The transaction further strengthens KKR’s footprint in the DACH region, where the firm has invested approximately €20 billion in equity across more than 40 companies since 1999. In infrastructure alone, KKR and its co-investors have committed more than €10 billion in the region over the past three years.
Germany’s renewed focus on infrastructure investment, including the use of a dedicated infrastructure fund, provides a supportive backdrop for platforms such as GMP. Electrified rail systems are increasingly viewed as strategic assets, linking climate objectives with industrial competitiveness and cross-border mobility.
What comes next
With KKR’s backing, GMP is expected to accelerate fleet expansion and explore consolidation opportunities in a fragmented European rail leasing market. The focus will remain on electric locomotives, as operators seek to meet tightening emissions standards and manage the transition to low-carbon rail operations.
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