According to a report posted by the British Times, a fund managed by J.P. Morgan Asset Management has acquired Beacon Rail Leasing from private equity fund Pamplona Capital Management in a deal valued at £855 million or about $1.05 billion.

Pamplona Capital Management acquired Beacon Rail, a UK locomotive and rolling stock leasing company from BTMU Capital, a subsidiary of Mitsubishi UFJ Financial Group, in 2014 for $450 million.

In June 2016 Beacon Rail acquired Germany-based Ascendos Rail Leasing, which included 225 locomotives and more than 1,000 freight cars on lease in the UK, Scandinavia, Belgium, the Netherlands, Poland and Germany, in addition to 55 passenger train units on lease in the UK and Germany, 67 double decker coaches on lease in Denmark and 13 sets of Mark 5 coaches which are operated by TransPennine Express the UK.