Napier Park Investing in Railcars Joins Icahn to Buffett
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Napier Park Global Capital, the $6.8 billion hedge fund spun out of Citigroup Inc., is investing $362 million in a railcar leasing venture, betting on an industry favored by billionaires Carl Icahn and Warren Buffett.
Napier Park is forming a partnership with Trinity Industries Inc. to acquire about $1 billion of railcars by the end of 2014, according to a statement. Napier Park also will provide financing to a second entity that owns an additional 14,455 cars, Dallas-based Trinity said yesterday.