What is Lineage?
Lineage, formerly Lineage Logistics, stands as the world's largest temperature-controlled warehouse real estate investment trust, headquartered in Novi, Michigan. The company is a critical component of the global food supply chain, offering comprehensive cold chain solutions that encompass warehousing, transportation, port services, high-pressure processing, automation, and advanced data analytics. Founded by Bay Grove Capital, Lineage has built an extensive network of strategically located facilities designed to support the complex needs of temperature-sensitive goods. Its operations are vital for maintaining the integrity and safety of food products from origin to consumer.
How much funding has Lineage raised?
Lineage has raised a total of $11B across 12 funding rounds:
Debt
$220M
Debt
$700M
Multiple Rounds
$1.2B
Other Financing Round
$1.9B
Unspecified
$1.7B
Unspecified
$700M
Stock Offering
$4.4B
Other Financing Round
$100M
Private Equity
$1.5M
Debt (2013): $220M with participation from Undisclosed
Debt (2018): $700M led by D1 Capital Partners and Stonepeak Partners
Debt (2020): $500M supported by Barclays, KKR, and Credit Suisse
Debt (2020): $300M featuring Credit Suisse
Private Equity (2020): $80M backed by CenterSquare Investment Management LLC
Private Equity (2020): $360M with participation from Oxford Properties Group
Other Financing Round (2021): $1.9B led by OP Trust, CenterSquare Investment Management, Conversation Capital, Cohen & Steers, BentallGreenOak, MS Tactical Value, Oxford Properties, and D1 Capital Partners
Unspecified (2022): $1.7B supported by Cohen & Steers, BentallGreenOak, CenterSquare Investment Management, and D1 Capital Partners
Unspecified (2022): $700M, investors not publicly disclosed
Stock Issuance/Offering (2024): $4.4B, investors not publicly disclosed
Other Financing Round (2024): $100M, investors not publicly disclosed
Private Equity (2026): $1.5M, investors not publicly disclosed
Key Investors in Lineage
Cohen & Steers
Cohen & Steers is a global investment manager specializing in real assets and alternative income, including real estate, preferred securities, infrastructure, and resource equities. Their expertise in real estate investment trusts aligns with Lineage's operational model.
BentallGreenOak
BentallGreenOak is a leading global real estate investment management firm with a history of over 100 years. Their focus on premier real estate markets and sustainable practices makes them a strategic partner for large-scale logistics infrastructure.
CenterSquare Investment Management
CenterSquare Investment Management is an independent real asset manager with a specialization in listed and private equity real estate. Their fiduciary approach and focus on real asset strategies are well-suited for supporting major infrastructure investments like Lineage's.
What's next for Lineage?
The recent major strategic investment signals Lineage's ongoing commitment to innovation and operational excellence within the cold chain industry. This capital infusion is expected to fuel further network expansion, technological advancements, and potentially strategic acquisitions. As the demand for sophisticated temperature-controlled logistics continues to rise, driven by global trade and evolving consumer expectations, Lineage is well-positioned to leverage this financing to solidify its market leadership and enhance its service offerings. The company's focus on automation and data analytics suggests a strategic direction towards optimizing efficiency and providing greater visibility across the supply chain.
See full Lineage company page
