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Lineage Raises $700 Million From Stake Sale to Stonepeak, D1

By Tony Seruga

Cold-storage company is said to weigh a REIT conversion
Prior investors include W.P. Carey, Jeff Ubben and John Mack

Lineage Logistics LLC, which calls itself the fastest-growing provider of temperature-controlled services such as transportation and storage, sold a minority stake worth $700 million, according to its chief executive officer and co-founder.

Lineage and some of its early investors sold the interest to funds managed by infrastructure-focused Stonepeak Partners LP; D1 Capital Partners, run by Daniel Sundheim, the former chief investment officer of Viking Global Investors; and some existing backers, Lineage CEO Greg Lehmkuhl and co-founder Kevin Marchetti said in an interview…

Lineage Raises $700 Million From Stake Sale to Stonepeak, D1

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