New railcar leasing company on track

Three Chicago-based investors are to form a new freight railcar leasing company, Riverside Rail, and have already acquired 2,032 railcars as an initial offering.

The investor group, composed of affiliates of insurance company Allstate, private investment firm Duchossois Capital Management, and CC Industries, say they believe railcar leasing represents an attractive long-term investment.

Their initial diversified railcar fleet includes a mix of covered hoppers, coal cars, mill gondolas, boxcars and centerbeams ,and the investors say they will grow this initial railcar investment into a larger railcar leasing fleet. Riverside Rail plans to build a full-service leasing and management services company over the next several years.