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A new DVB Bank AG rail investment fund recently closed on its first transaction — a European project that Frankfurt, Germany-based DVB didn’t identify. Established by DVB Investment Management, the fund — Stephenson Capital — focuses on principal investments in rail assets in European and North American markets.

Meanwhile, DVB Bank’s Land Transport Division picked up two awards earlier this month. The DVB business unit was named “Rail Finance House of the Year” by Jane’s Transport Finance, which covers international transport finance. The publication also awarded DVB and partner Credit Industriel et Commercial its “U.S. Rail Deal of the Year” for arranging a senior secured debt facility supporting the acquisition of newly built and used rail cars by ARI Second L.L.C.