Lineage Inc

(7)Equity method investments

The Company's beneficial ownership in investments accounted for under the equity method ranges from 8.8% to 50.0%. The Company has certain investments with beneficial ownership interests of less than 20% that are accounted for under the equity method, as the Company's beneficial ownership interests in these entities are similar to partnership interests.

The carrying values of the Company's investments accounted for under the equity method as of December 31, 2024 and 2023 were as follows:

Emergent Cold LatAm Holdings, LLC

The Company acquired a 10.0% interest in Emergent Cold LatAm Holdings, LLC (“LatAm”) in July 2021. Due to additional LatAm capital raising activities that have occurred since, the Company’s ownership percentage was 8.8% and 9.0% as of December 31, 2024 and 2023, respectively. LatAm is organized in the Cayman Islands. The Company has committed to invest up to a total of $108 million in LatAm. The Company has invested a total of $90 million in LatAm to date, of which the Company invested $20 million, $31 million, and $12 million during the years ended December 31, 2024, 2023, and 2022, respectively. The Company has an option to purchase the remaining equity interests in LatAm during a period beginning on the third anniversary and expiring on the sixth anniversary of its initial investment date, which was July 2021. As of December 31, 2024, the Company has not exercised this option.

Other investments

The Company also holds beneficial ownership interests in other immaterial equity method investees.