Hamilton Lane and Slate Asset Management announced that they have acquired a majority equity stake in Cold‑Link Logistics, a privately held cold‑storage platform that operates nine facilities across the United States. The transaction, disclosed on December 15 2025, gives the two investors a controlling interest in a company that manages nearly 78 million cubic feet of refrigerated and frozen capacity.
Cold‑Link Logistics, founded in 2016 by brothers Michael and Nick Mandich and headquartered in Hollywood, Florida, has grown to become one of the ten largest privately‑held cold‑storage platforms in North America. Its nine facilities are located in the Central, Northeastern, and Southern regions, and the majority of its pallet volume is housed in assets built in 2022 or later, underscoring the company’s focus on modern, energy‑efficient infrastructure.
The acquisition aligns with Hamilton Lane’s broader strategy to deepen its infrastructure and real‑assets platform, while Slate Asset Management’s “essential real estate” mandate gains a high‑growth, defensively positioned asset class. The cold‑chain logistics market is projected to expand from an estimated $385 billion in 2025 to more than $1.4 trillion by 2035, driven by rising demand for temperature‑sensitive food and pharmaceutical products. By adding Cold‑Link, the investors position themselves to capture a share of this accelerating market and to generate fee‑related earnings from a sector that offers durable cash flows.
Hamilton Lane reported $1.0 trillion in assets under management and supervision as of September 30 2025, with $145.4 billion in discretionary assets and $859.8 billion in non‑discretionary assets. The financial terms of the Cold‑Link transaction were not disclosed, but the deal is expected to enhance Hamilton Lane’s fee‑related earnings and provide Slate with a strategic foothold in a critical supply‑chain segment.
Jeff Rodgers, Managing Director of Infrastructure at Slate, said the investment “increases our exposure to a critical and rapidly growing segment of the food supply chain through a proven operator with an exceptional platform and a clear strategy.” Michael Mandich, President and Managing Partner of Cold‑Link, noted that the company has “scaled into one of the largest privately held cold storage platforms in North America in under ten years.”
The deal represents a significant expansion into a high‑growth infrastructure niche, but no immediate market reaction data is available. The transaction underscores the investors’ confidence in the long‑term resilience of cold‑chain logistics and their commitment to building a diversified, defensively positioned real‑assets portfolio.
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