LONDON—MetLife Inc. has acquired, through its MetLife Private Capital Investors group, a minority stake in an international consortium that is delivering a multi-billion dollar renovation and upgrade to the long distance passenger rail system in the United Kingdom. The project will provide the foundation for a new generation of trains to serve Britain's rail network's long-distance routes well into the 21st century.

MetLife closed on its investment in late January for its interest in Agility Trains West Ltd., a consortium consisting of Hitachi Rail Europe and John Laing Investments. Equity investments of this type provide MetLife with investment opportunities that match the long-term liabilities the company writes through its insurance products.

Agility Trains West represents the first phase of the UK Department for Transport's Intercity Express Programme, a project worth an estimated $6.9 billion (£4.5 billion), consisting of the delivery of new trains, maintenance depots, and route upgrades, with Network Rail undertaking the infrastructure upgrades to allow the new trains to operate on the network. The portion of the contract for Agility Trains West is estimated at $3.7 billion (£2.4 billion).