Canadian Pensions Funnel More Money into Lineage Logistics
Posted on 01/04/2022
Lineage Logistics, LLC, a temperature-controlled industrial REIT and logistics solutions provider, announced it has raised US$ 1.7 billion in equity from new and existing strategic partners. Participating investors include BentallGreenOak, CenterSquare Investment Management, Cohen & Steers, D1 Capital Partners, Healthcare of Ontario Pension Plan (HOOPP), New York State Teachers Retirement System (NYSTRS), OP Trust, Oxford Properties (Ontario Municipal Employees Retirement System), QuadReal Property Group, Rabobank, StepStone Group, and others. The new capital will strengthen Lineage’s balance sheet and will fuel Lineage’s investments in industry-leading technology, including automation and proprietary software tools that help to improve supply chain efficiencies. It will also be used to fund Lineage’s growth through greenfield developments, facility expansions, and investments in clean energy initiatives.
The equity raise follows Lineage’s latest funding round of US$ 1.9 billion, announced in March 2021. The latest funding brings the total equity raised since January 2020 to US$ 6 billion.
Morgan Stanley acted as financial advisors, and Latham Watkins served as legal counsel for Lineage.