Wilbur Ross mulls rail investments

By: | at 08:00 PM | Intermodal  

Billionaire investor Wilbur Ross said his private equity firm was considering investments in rail cars, real estate and casinos.

Ross’ private equity firm WL Ross & Co bought into railroad equipment supplier Greenbrier Cos in 2009, and the two teamed up to buy a portfolio of nearly 4,000 railcars late last month.

“We’re looking to buy more rail cars,” Ross told Reuters, noting that there are plenty of rail car owners that are in or nearing financial distress.

In a separate interview, he told Reuters Insider that he expects the sector to perform well.

“Back in last summer a third of all rail cars were sitting idle,” he said. “That’s been cut in half now.” (Reuters)


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