Alexander Doll, a long-time advisor, banker, and former CFO of Deutsche Bahn, is now primarily active as an investor, and holds multiple supervisory board positions. He also advises private equity investors on major infrastructure deals in Germany. Recently, he was involved in the bidding process of the logistics company DB Schenker, acting for the private equity firm CVC.

Previously, he played a role in the sale of Deutsche Bahn’s subsidiary Arriva to the US investor I Square, where he sits on the supervisory board. However, the Schenker sale did not follow the typical private equity playbook. The Danish company DSV ultimately won the bidding, leaving CVC empty handed – and feeling discriminated against.

Doll calls for clear regulatory frameworks, maximum transparency, and closer coordination between the private and public sectors for investors. „Processes like the recently announced sale of Schenker lack the necessary strategy and transparency for the business location“, says Doll, who believes that Germany's infrastructure challenges cannot be solved without private capital.

The investment backlog affects not only the transport sector, but also social infrastructure, and the energy transition. „Given the limited and shrinking public funds, addressing these issues will only be possible with the support of the private sector, through a combination of operational management and private financing“, states Doll. In the podcast Betting Billions, he explains where this approach is already working well, and where challenges remain.