# Rail First Asset Management > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Rail_First_Asset_Management > Markdown URL: https://mediated.wiki/source/Rail_First_Asset_Management.md > Source: https://en.wikipedia.org/wiki/Rail_First_Asset_Management > Source revision: 1357219396 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{Short description|Australian rolling stock leasing company}} {{Use dmy dates|date=December 2021}} {{Infobox company | name = Rail First Asset Management | logo = RailFirst_Logo.png | logo_size = 200px | logo_caption = | image = VL class QUBE.jpg | image_size = | image_caption = [Qube Holdings](/source/Qube_Holdings) leased RFAM [VL class](/source/VL_class) in [Melbourne](/source/Melbourne) in February 2025 | type = | traded_as = | industry = Rail Asset Management | fate = | predecessor = | successor = | founded = November 1998 | founder = | defunct = | hq_location_city = [North Sydney](/source/North_Sydney%2C_New_South_Wales) | hq_location_country = Australia | num_locations = | area_served = | key_people = | products = | production = | services = | revenue = | operating_income = | net_income = | assets = | equity = | num_employees = | parent = | divisions = | subsidiaries = | website = [https://railfirst.com.au/ www.railfirst.com.au] }} '''Rail First Asset Management''' ('''RailFirst'''), formerly known as '''CFCL Australia''' ('''CFCLA, Chicago Freight Car Leasing'''), is an Australian [rolling stock](/source/rolling_stock) leasing company operating in the rail freight market. It leases assets to a number of private rail operators, predominantly on the defined interstate rail network. Though primarily based in [New South Wales](/source/New_South_Wales), RailFirst's assets can be found operating in most Australian states and with all major train operating companies. It has rolling stock on both long-term lease to those companies as well as assets that are available for spot hire. It is owned by DIF Capital Partners and Amber Infrastructure. Rail First has workshops in Islington Adelaide and Goulburn in regional NSW where it maintains its owned rollingstock in house and the rollingstock of third parties. ==History== [[File:CFCLA-EL-classes.jpg|thumb|[EL class](/source/Australian_National_EL_class) locomotives in January 2007]] thumb|CM3309 hauling hoppers on the main south in NSW thumb|EL54 leads a train north away from Goulburn Workshop. Rail First Asset Management was originally established in 1998 by the American [Chicago Freight Car Leasing Company](/source/Chicago_Freight_Car_Leasing_Company) as ''CFCL Australia''. The company's first contract was for the supply of a small fleet of radio-controlled automated ballast [hopper](/source/hopper_car)s to [Westrail](/source/Westrail). During November 1998, the company acquired its first locomotives in the form of 13 [EL class](/source/Australian_National_EL_class) locomotives, which were obtained from [Australian National](/source/Australian_National_Railways_Commission).{{cite book| title=Locomotives of Australia: 1850s – 2007| first=Leon| last=Oberg| isbn=978-1-877058-54-7| publisher=Rosenberg Publishing| year=2007| page=9}}{{cite magazine| title=ELs Sold to US Bidder| magazine=Railway Digest| date=December 1998| page=12}} In 2000, it expanded the wagon fleet.{{cite magazine| title=CFCLA Wagon Expansion| magazine=Railway Digest| date=June 2000| page=13}} In March 2009, the [Marubeni Corporation](/source/Marubeni) purchased a 49% stake in CFCL Australia.{{cite web |url=http://www.cfcla.com.au/jointventure.htm |title=Joint Venture |website=CFCLA |archiveurl=https://web.archive.org/web/20190302110121/http://www.cfcla.com.au/jointventure.htm |archivedate=2 March 2019}} In November 2012, CFCL Australia unveiled its first infrastructure train in the [Pilbara](/source/Pilbara) region of [Western Australia](/source/Western_Australia).{{cite web |url=http://www.cfcla.com.au/news/trainsets2013-2014.pdf |title=Trainsets 2013-2014 |website=CFCL Australia |archiveurl=https://web.archive.org/web/20190302110136/http://www.cfcla.com.au/news/trainsets2013-2014.pdf |archivedate=2 March 2019}} By October 2014, the company had locomotives operating construction trains on the [Roy Hill railway](/source/Roy_Hill_railway) and on the [Hamersley & Robe River railway](/source/Hamersley_%26_Robe_River_railway).{{cite magazine |title=Australia Wide Fleet List |magazine=Motive Power |issue=96 |date=November 2014 |pages=66–67}} Throughout the 2010s, there was a significant growth in demand from the [intermodal](/source/Intermodal_freight_transport) sector; in response, the majority of CFCL Australia's wagons were engaged in use by various clients in this sector, typically under [wet leasing](/source/wet_lease) arrangements suitable for companies that may not have traditionally been active on the railways before. To better suit customer demands, the company's management were looking at options to obtain additional 40-foot wagons, one such proposal being the shortening of existing 60-foot wagons. Company officials forecast demand for intermodal rolling stock would continue to grow as additional freight terminals come online across Australia, including several schemes in the Sydney basin and New South Wales, as well as the [Inland Rail](/source/Inland_Rail) programme.{{cite web |url = https://www.railexpress.com.au/tag/cfcl-australia/ |title = Meeting the growing demand for intermodal freight |publisher = railexpress.com.au |first = Connor |last = Pearce |date = 17 March 2020 }} During 2016, Marubeni decided to relinquish its stake in CFCL Australia and moving to 15% stake in CF Asia Pacific. As of January 2020, Marubeni holds no interest in either entity. During January 2020, CFCL Australia was acquired by [Anchorage Capital Partners](/source/Anchorage_Capital_Partners);{{cite web |url = http://www.anchoragecapital.com.au/news/2020/01/06/anchorage-capital-partners-acquires-cf-asia-pacifi |archive-url = https://web.archive.org/web/20210305092156/http://www.anchoragecapital.com.au/news/2020/01/06/anchorage-capital-partners-acquires-cf-asia-pacifi |archive-date = 5 March 2021 |url-status = dead |title = Anchorage Capital Partners acquires CF Asia Pacific |publisher = Anchorage Capital Partners |date = 6 January 2020}} one year later, the company was rebranded as Rail First Asset Management in 2021.CFCLA now Rail First Asset Management. ''Railway Digest'', May 2021. page 4. DIF Capital Partners and Amber Infrastructure Group acquired Rail First in December 2022, since this change of ownership new 4400hp AC traction locomotives have been ordered from UGL (GE Wabtec) with 26 to be in service by December 2024. Mid 2024 Amber Infrastructure Group has exited Australia and sold their share to DIF Capital Partners.{{citation needed|date=November 2025}} == Rail First Asset Management == thumb|CM3311 "Arcoola" arrives into Goulburn Workshop. In Jan 2021 RFAM took out a lease on the [Goulburn Railway Workshops](/source/Goulburn_Railway_Workshops) to maintain both its locomotive and wagon fleets with the facility named the Australian Horse Power Service Centre.{{cite press release| url=http://www.cfcla.com.au/news/news_article_goulburn_lease.pdf| archiveurl=https://web.archive.org/web/20180418004930/http://www.cfcla.com.au/news/news_article_goulburn_lease.pdf| archivedate=18 April 2018| title=Bright Future for Goulburn Railway Workshops| author=Chicago Freight Car Leasing Australia| date=2 September 2010}}{{cite web| url=http://www.goulburnpost.com.au/story/130019/workshops-roll-ahead/| title=Workshops roll ahead| website=Goulburn Post| date=12 June 2012| first=Leon| last=Oberg| access-date=25 April 2015| archive-date=20 February 2015| archive-url=https://web.archive.org/web/20150220103909/http://www.goulburnpost.com.au/story/130019/workshops-roll-ahead/| url-status=live}}{{cite magazine| title=Born in Chicago| magazine=Railway Digest| date=November 2012| page=34}} As well as maintaining its own fleet, Railfirst Asset Management also perform maintenance for other operators including [Qube Logistics](/source/Qube_Holdings). It also maintains locomotives at [Islington Railway Workshops](/source/Islington_Railway_Workshops) in [Adelaide](/source/Adelaide).{{citation needed|date=November 2025}} In Early 2021 was established, bringing together the Australian Horse Power Service Centre and took over Bluebird Rail Operations engineering business at Islington. The Rail First Asset Management Also as RFAM In 2021 company was working to expand its workshop capacity to meet customer demand, particularly for fast turnaround times. == Fleet == Initially, RailFirst's locomotive fleet comprised second-hand locomotives that were no longer required by their original rail operators; some of these would be re-manufactured units or had undergone life-extending overhauls. Over time, the company has orientated towards purchasing new locomotives instead. In May 2012, the company placed one of its first orders for ten MP33C new-build locomotives with [Wabtec](/source/Wabtec) subsidiary [MotivePower](/source/MotivePower).{{cite web |url = https://www.prnewswire.com/news-releases/wabtec-receives-order-to-build-locomotives-for-cfcl-australia-marubeni-149639385.html |title = Wabtec Receives Order To Build Locomotives For CFCL Australia, Marubeni |publisher = Wabtec |date = 1 May 2012}} The RailFirst diesel locomotive fleet is made up of a variety of different classes of units, ranging from modern high power units to older mainline locomotives. By February 2020, the company had opted to permanently withdraw all of its older smaller locomotive.{{cite web| url=http://www.cfcla.com.au/locomotives.htm| archive-url=https://web.archive.org/web/20200217015655/http://www.cfcla.com.au/locomotives.htm| archive-date=17 February 2020| title=Locomotives| website=Chicago Freight Car Leasing Australia}} By March 2020, the company's inventory contained 78 locomotives:{{cite web |url = https://www.railexpress.com.au/tag/cfcl-australia/ |title = Meeting the growing demand for intermodal freight |publisher = railexpress.com.au |first = Connor |last = Pearce |date = 17 March 2020 }} {| class="wikitable sortable" |- style="background:#f9f9f9;" |'''Class''' |'''Image''' |'''Type''' |'''Gauge''' |'''Top speed
(km/h)''' |'''Built''' |'''Number''' |'''Notes''' |- bgcolor="#FFFFFF" |[CF class](/source/UGL_Rail_C44aci) |frameless|150x150px |Diesel-electric |[Standard](/source/Standard-gauge_railway) |115 |2012 – 2025 |33 |New build |- bgcolor="#FFFFFF" |[CM class](/source/MPI_MP33C) |frameless|150x150px |Diesel-electric |[Standard](/source/Standard-gauge_railway) |115 |2013 – 2015 |16 |New build |- bgcolor="#FFFFFF" |[EL class](/source/Australian_National_EL_class) |150px |Diesel-electric |[Standard](/source/Standard_gauge) |115 |1990 – 1991 |12 |Ex [Australian National](/source/Australian_National_Railways_Commission) Stored, Off Hire at Islington and Goulburn Was Listed For sale, Future Unknown |- bgcolor="#FFFFFF" |[G class](/source/Victorian_Railways_G_class_(diesel)) |frameless|150x150px |Diesel-electric |[Broad](/source/Broad-gauge_railway) |115 |1984 – 1989 |2 |Ex [SCT Logistics](/source/SCT_Logistics) Originally owned by [V/Line](/source/V%2FLine) |- bgcolor="#FFFFFF" |[GL Class](/source/New_South_Wales_442_class_locomotive) |frameless|150x150px |Diesel-electric |[Standard](/source/Standard_gauge) |115 |1970 – 1973 as the [442 class](/source/New_South_Wales_442_class_locomotive) 2003 – 2004 as the GL class |12 |Rebuilt ex FreightCorp [442 class](/source/New_South_Wales_442_class_locomotive) |- bgcolor="#FFFFFF" |[VL class](/source/VL_class) |150px |Diesel-electric |[Standard](/source/Standard-gauge_railway) - VL352, VL354, VL355, VL358, VL359, VL361, VL362 [broad](/source/Broad_gauge) - VL351, VL353, VL356, VL357, VL360 |115 |2007 – 2009 |12 |New build |} Most locomotives in the fleet are named after famous Australian racehorses.{{citation needed|date=November 2025}} RailFirst fleet consist of 1,200 freight wagons of a variety of types including grain hoppers, bulk mineral hoppers, and [intermodal](/source/Intermodal_freight_transport) flat wagons of varying lengths and carrying capabilities. RailFirst wagons generally have four-character identification codes starting with the letter{{nbs}}C.{{cite web| url=http://www.cfcla.com.au/wagons.htm| archive-url=https://web.archive.org/web/20200218061312/http://www.cfcla.com.au/wagons.htm| archive-date=18 February 2020| title=Wagons| website=CFCL Australia}} == References == {{Reflist}} == External links == * [https://railfirst.com.au/ Company website] {{Australian rail}} {{authority control}} Category:Railway rolling stock leasing companies of Australia Category:Railway companies established in 1998 Category:1998 establishments in Australia Category:Asset management companies --- Adapted from the Wikipedia article [Rail First Asset Management](https://en.wikipedia.org/wiki/Rail_First_Asset_Management) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Rail_First_Asset_Management?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.