Railpen, one of the largest pension managers in the UK, has acquired a 25% shareholding in Verdis, the largest municipal waste collection operator in Scandinavia, for an undisclosed sum.
The investment in Verdis, formerly known as Urbaser Nordic, marks Railpen’s first direct infrastructure investment in the Nordics and the municipal waste collection sector.
Acquired by Cube Infrastructure Managers in November 2023, Verdis delivers municipal waste collection services to more than 6 million inhabitants in approximately 100 municipalities across Denmark, Norway, Sweden and Finland.
Railpen will be represented on Verdis’ board by Lewis Vanstone, investment director in Railpen’s real assets team, and Tim Grimstone, investment manager, who will remain directly and actively involved in the business’ continued governance.
Railpen’s investment in Verdis follows the acquisition this year of a 50% shareholding in renewable energy business AGR Power and its recently announced joint venture with GreenPower to develop the Barachander onshore wind project in north Argyll.
