Beacon Rail

In May 2008, Mitsubishi UFJ Financial Group purchased Allco Finance Group's European rolling stock leasing business.[1][2][3] In January 2009 it was rebranded Beacon Rail. Its initial fleet comprised 15 class 66s leased to Fastline and Freightliner, 12 Bombardier Traxxs and 15 coal wagons.[4][5]

In 2009, Beacon Rail purchased HSBC Rail's European business with 20 EMD JT42CWR locomotives.[6] In 2012 it purchased its first passenger stock with twenty Class 313s on lease to Southern acquired from Eversholt Rail Group.[7] In 2014, the business was sold to Pamplona Capital Management.[8][9] In 2016 Ascendos Rail Leasing was purchased.[10][11]

In 2017, Beacon Rail was purchased by JPMorgan Chase. By this stage its portfolio included 190 locomotives, 944 freight wagons and 20 passenger trains.[12][13] Shortly after, 352 Class 220 and 221 carriages were purchased from subsidiaries of Lloyds Bank and Royal Bank of Scotland.[14][15] In 2018, 67 locomotives were purchased from Colas Rail.[16][17]