Simpson Thacher is advising EQT's Active Core Infrastructure fund on its joint venture with Americold Realty Trust, Inc., a global leader in temperature-controlled logistics. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.
Under the terms of the agreement, Americold will contribute 12 cold storage facilities to the joint venture with an aggregate value in excess of $1.3 billion at inception. At closing, EQT will acquire a 70% interest in the joint venture, and Americold will retain a 30% equity interest and serve as day-to-day manager of the platform.
Americold is a global leader in temperature-controlled logistics and real estate, with a more than 120-year legacy of innovation and reliability. With more than 220 facilities across North America, Europe, Asia-Pacific and South America – totaling approximately 1.4 billion refrigerated cubic feet – Americold ensures the safe, efficient movement of refrigerated products worldwide.
EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2026, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
The Simpson Thacher team includes Robert Langdon, Javad Asghari, Mark Myott, Roy Jackson, Omar Kanjwal, Margaret Wilburn, Nick Redfield, James Hodgson, Jack Bick, Audra Gibbs and Fiona Sands (M&A); Krista Miniutti, Whitney Salinas, Eliezer Lipnik, Akiva Mase and Margaret Brown (Real Estate); Jonathan Goldstein, Brian Mendick and Benjamin Bressler (Tax); David Rubinsky, Caitlin Lucey and Matthew Behrens (Executive Compensation and Employee Benefits); George Gerstein and Alexander Kharash (ERISA); Caroline Geiger, Christina Breitbeil and Alexander Kokka (Intellectual Property); Sara Razi, Nathaniel Bronstein and Max Fischer-Zernin (Antitrust); Mick Tuesley, Michael Kalinin and Liam Murray (CFIUS/FDI); and Vannesa Burrows, Abram Ellis, Claire Cahoon, Alison Peters, Jacob Madden and Shinae Yoon (Regulatory).