Stonepeak, a prominent alternative investment firm focusing on infrastructure and real assets, has announced the official launch of Peregrine Cold Logistics (Peregrine), a new platform specialising in cold chain logistics across the Asia Pacific and Gulf Cooperation Council (GCC) regions. This move addresses the rapidly increasing need for temperature-controlled infrastructure in these markets.

Peregrine, which will be headquartered in Singapore, is set to pursue cold chain opportunities in critical markets. These include the ASEAN region, North Asia, and the GCC. The platform aims to provide high-quality storage capacity and related logistics solutions. The goal is to support the efficient movement of temperature-sensitive and perishable goods throughout the supply chain. The firm will look to acquire existing cold chain businesses and undertake new greenfield and brownfield development projects.

In a foundational step for the launch, Peregrine has already agreed to acquire an initial seed asset. This is Pinnacle Cold Storage Inc., a cold storage company located in the Philippines.

The platform will be guided by a highly experienced management team. This team includes industry veterans with over 30 years of experience in cold chain logistics. They possess a proven track record in expanding cold chain businesses globally and specifically within the Asia Pacific. They bring substantial operational, technological, and regional expertise, along with an extensive network of global customer relationships.

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.”