News and Deals

Linklaters advises underwriters and lenders on the financing of USS's acquisition of VTG Rail UK

News|
1 October 2026

Press Contact 

Jörg Overbeck
PR/Communications Lead
+49 1726907510
joerg.overbeck@linklaters.com

We advised the underwriters and lenders on the financing for Universities Superannuation Scheme (USS) in connection with its acquisition of 100 percent of VTG Rail UK from VTG GmbH.

USS is one of the UK's largest pension schemes, managing approximately £84 billion in assets, with a significant portfolio of infrastructure and private market investments. VTG Rail UK is the UK's leading rail freight wagon leasing business, operating a fleet of more than 4,000 wagons that play a key role in supporting the movement of goods across the UK rail network.

The Linklaters team was led by Global Head of Energy and Infrastructure Richard Ginks and Partner Subir Rajadhyaksha. They were supported by managing associates Jamie McPhie and Trisha Dasgupta, together with associates Katie Rivers, Berliana Tjendera and Bukola Alada.

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