Temperature-Controlled Cold Storage Industrial REITs Lineage Logistics Plans for $30 Billion IPO in 2024, Raised More than $13 Billion Capital Supported by Investment Fund Bay Grove Founded by Ex-Morgan Stanley Investment Bankers Adam Forste & Kevin Marchetti
1st December 2023 | Hong Kong
Temperature-controlled cold storage industrial REITs Lineage Logistics is planning for a $30 billion IPO in 2024, having raised more than $13 billion capital and is supported principally by investment fund Bay Grove (founded by former Morgan Stanley investment bankers Adam Forste & Kevin Marchetti. Lineage is one of the world’s leading temperature-controlled industrial REITs and integrated solutions providers with a global network of over 400 strategically located facilities, totaling more than 2.5 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling industry-leading expertise in end-to-end logistical solutions and innovative technology, Lineage partners with the world’s largest food and beverage companies to increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, help feed the world.
“ Temperature-Controlled Cold Storage Industrial REITs Lineage Logistics Plans for $30 Billion IPO in 2024, Raised More than $13 Billion Capital Supported by Investment Fund Bay Grove Founded by Ex-Morgan Stanley Investment Bankers Adam Forste & Kevin Marchetti “
Temperature-Controlled Cold Storage Industrial REITs Lineage Logistics Plans for $30 Billion IPO in 2024
About Lineage
Lineage is one of the world’s leading temperature-controlled industrial REITs and integrated solutions providers with a global network of over 400 strategically located facilities, totaling more than 2.5 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling industry-leading expertise in end-to-end logistical solutions and innovative technology, Lineage partners with the world’s largest food and beverage companies to increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage has been named a CNBC Disruptor 50 Company for three consecutive years, twice named a US Best Managed Company, named the No. 1 Data Science company, and 23rd overall, on Fast Company’s list of The World’s Most Innovative Companies, and was included on Fortune’s Change the World list.
Bay Grove
Bay Grove, the principal investment fund that owns Lineage, is run by two San Francisco entrepreneurs making incredible strides in the food supply chain business who have flown under the radar until now. This is the untold story about how Adam Forste and Kevin Marchetti, both of investment firm Bay Grove, are reimagining the world’s food supply chain. Adam and Kevin were former colleagues in Morgan Stanley’s investment banking group who reunited after their respective tenures in institutional private equity – Adam at Kohlberg Kravis Roberts & Co. (KKR), and Kevin at The Yucaipa Companies. During Bay Grove’s formative period, Adam and Kevin conceived of a simple vision for Bay Grove focused on creating platform companies one at a time with investment lifespans measured in decades, not years – built by developing deep domain expertise around each platform. Since late 2008, Bay Grove has executed its owner-operator vision and approach with Lineage. Today, the team devotes all its time to the growth and success of this platform. Adam, Kevin and the dynamic team at Bay Grove bring extensive industry knowledge to the table, but also possess financial savvy that adds yet another competitive edge to Lineage’s business.
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