New York & Singapore, Dec 10 — Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the launch of Peregrine Cold Logistics (“Peregrine” or the “Platform”), a new cold chain logistics platform in Asia Pacific and the GCC, to meet the accelerating demand for temperature-controlled infrastructure across the region.
Headquartered in Singapore, Peregrine will target cold chain opportunities across key markets including the ASEAN region, North Asia, and the GCC, with the goal of providing high-quality storage capacity and ancillary logistics solutions to support the movement of temperature-sensitive and perishable goods throughout the supply chain. The Platform will seek to both acquire existing cold chain businesses and develop new greenfield and brownfield projects. In conjunction with the launch, Peregrine has agreed to acquire an initial seed asset, Pinnacle Cold Storage Inc., a cold storage business in the Philippines.
The Platform is led by an experienced management team including industry veterans with more than 30 years of experience in cold chain logistics and an extensive track record of scaling cold chain businesses in Asia Pacific and around the world. The team brings with them deep operational, technological, and regional expertise and a wide network of customer relationships globally.
Jeff Hogarth, CEO of Peregrine, commented, “Peregrine was founded with a clear mission: to redefine cold chain logistics across Asia Pacific and the GCC by delivering first-rate infrastructure, fostering strong local partnerships, and enabling the safe, efficient, and sustainable movement of food and essential goods. We are thrilled to embark on this journey with Stonepeak, a leading global infrastructure investor with deep cold chain expertise, a broad regional footprint, and proven platform-building experience. As rising standards for food safety and quality continue to drive demand for modern, purpose-built facilities managed by experienced operators, Peregrine is exceptionally well positioned to become a regional leader – not only in scale, but in innovation, reliability, and sustainability.”
Michael Chan, Managing Director at Stonepeak, added, “Stonepeak is excited to expand on its global experience in cold chain logistics with this further investment into Asia Pacific and the GCC. The sector continues to benefit from long-term structural tailwinds in the region including the continued impact of rapid urbanization, rising incomes, and growing consumption, all of which drive calorie intake and protein consumption. With the cold storage industry landscape across much of Asia still highly fragmented, we believe there is an opportunity to build a specialist platform of scale to serve the growing needs of the region. We are excited to be partnering with Jeff and team, share their vision for Peregrine, and look forward to supporting them on the journey ahead.”
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