Blackstone Group

PayCargo,  fintech for freight, lands $130M from Blackstone Group

Front close up of a large jet with cargo being loaded on the side and stacks of dollars superimposed on the side.

Freight payment platform PayCargo said Wednesday it has secured up to $130 million from  the Blackstone Group, one of the world’s largest private equity firms, to support rapid international expansion, new product development and potential acquisitions.

The series C investment from funds managed by Blackstone Growth represents the largest funding round for 13-year-old PayCargo, which landed $125 million from private equity firm Insight Partners exactly one year ago. Blackstone considers the...

https://www.freightwaves.com/news/paycargo-fintech-for-freight-lands-130m-from-blackstone-group

Real estate mogul Zell invests in cold storage warehouse firm

worker at cold storage facility

Equity Group Investments (EGI), real estate mogul Sam Zell’s investment company, said Thursday it has invested in East Coast Warehouse (ECW), an operator of 72 million cubic feet of temperature-controlled warehouse space serving the food and beverage industry. Terms of the transaction, including whether EGI acquired a majority stake in ECW, were not disclosed.

Based in Elizabeth, New Jersey, ECW operates warehouses at the Ports of New York/New Jersey, Philadelphia, Baltimore and Savannah,...

https://www.freightwaves.com/news/real-estate-mogul-zell-invests-in-cold-storage-warehouse-firm

Check Call: Peace out, 2021; it wasn’t nice knowing you

Hot Take

image: Reddit

I think it’s safe to say that 2021 wasn’t the bright shining star we hoped it would be. If anything, 2021 has taught us a few more lessons to keep us humble. I, for one, had no idea that 100-plus ships could sit waiting for a time to come into port and thousands of flights a day could be canceled due to a covid outbreak. The past year is bound to give us some wild stories to tell for years to come, and here are the top 10 ways, in no particular order, I was a little...

https://www.freightwaves.com/news/check-call-peace-out-2021-it-wasnt-nice-knowing-you

Blackstone group acquires 17.4 million square feet of warehouse space

Blackstone Group buys 124 logistics properties with 17.4 million square feet of space worth $2.8 billion

Blackstone Group, the New York City-based investment management company, is widening its logistics portfolio. The firm, which invests in everything from real estate to health care to IT, on Tuesday bought up a $2.8 billion portfolio of warehouse space from Cabot Properties in two separate transactions. The portfolio consists of 124 logistics properties in the United States and Europe.

The U.S. side of the Cabot portfolio was acquired by Blackstone Real Estate Income Trust, which owns properties...

https://www.freightwaves.com/news/blackstone-group-acquires-17-4-million-square-feet-of-warehouse-space

Link Logistics hits quarterly record with Q3 activity

Link Logistics Real Estate, formed less than three years ago by financial titan Blackstone Inc. (NYSE:BX) to focus on last-mile logistics real estate, reported on Tuesday its best quarter ever, signing more than 550 new and renewal leases for a record 23 million square feet and boosting its development pipeline by $1.6 billion over second-quarter totals.

In a third-quarter update, New York-based Link said it invested $5.6 billion during the period to support a pipeline of 30 million square feet....

https://www.freightwaves.com/news/link-logistics-hits-quarterly-record-with-q3-activity

JD Logistics sets IPO price, eyes $3.4B valuation

On Monday, JD Logistics, the supply chain spinoff of JD.com (NASDAQ:JD), set its Hong Kong IPO price between $HK39.36 and $HK43.36 for a total of 609.1 million shares. This pricing could lead to a $3.4 billion valuation for the company.  

JD.com plans to hold 10% of JD Logistics’ shares, according to the new filing.

The listing would also provide an over-allotment option that would provide another 91 million shares, raising an additional $510 million.

Joint sponsors for the IPO include BofA...

https://s29755.pcdn.co/news/jd-logistics-sets-ipo-price-eyes-34b-valuation

Weee! raises $315M to expand ethnic grocery delivery network

Online ethnic grocery delivery platform Weee! announced it has raised $315 million in a Series D round led by DST Global, with participation from Tiger Global Management, Blackstone Group and Arena Holdings. The Fremont, California-based company has raised a total of $415 million, with Bloomberg reporting a $2.8 billion valuation.

Weee! caters to ethnic communities, mainly providing access to Asian and Hispanic foods. Weee! currently offers free delivery, on orders of $35 or more, for more than...

https://www.freightwaves.com/news/weee-raises-315m-to-expand-ethnic-grocery-delivery-network

Prologis completes largest-ever sale of logistics warehouses in the UK

Prologis facility in Coventry, United Kingdom

San Francisco-based Prologis Inc. (NYSE: PLD) announced that it has completed the largest-ever portfolio sale of logistics warehouses in the U.K.

In a Wednesday evening press release, the world’s leading logistics real estate investment trust reported the sale of 22 stand-alone buildings totaling 4.3 million square feet to real estate funds managed by New York-based The Blackstone Group (NYSE: BX).

The price tag was 473 million pounds (U.S. $618 million).

The properties were acquired by Prologis...

https://www.freightwaves.com/news/prologis-completes-largest-ever-sale-of-logistics-warehouses-in-the-uk

Investment firms reportedly make new bid for Kansas City Southern

Kansas City Southern train

The Blackstone Group’s (NYSE: BX) infrastructure arm and Global Infrastructure Partners have reportedly made a bid to acquire U.S. Class I railroad Kansas City Southern (NYSE: KSU), according to the Wall Street Journal (WSJ).

Shares of KSU jumped nearly 5% following the announcement.

Reports have surfaced in the past linking KSU to a potential takeout at the hands of infrastructure-focused private equity firms. In late-July, the WSJ published an article saying the investment firms were mulling a...

https://s29755.pcdn.co/news/takeout-bid-for-kansas-city-southern-made-reportedly

Infrastructure investment firms reportedly eye Kansas City Southern

A photograph of a Kansas City Southern train traveling through an open field.

Two major infrastructure investment firms, Global Infrastructure Partners and the Blackstone Group’s infrastructure segment, are mulling over whether to attempt to acquire U.S. Class I railroad Kansas City Southern (NYSE: KSU), according to an article in the Wall Street Journal (WSJ).

The article said the two firms are considering an acquisition and talking with banks about the prospect, according to the article. But the firms haven’t decided their course of action, and Kansas City Southern...

https://s29755.pcdn.co/news/infrastructure-investment-firms-reportedly-eye-kansas-city-southern

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