A dam Forste is a co-founder and Managing Partner of BayPine, a private investment firm that seeks to create lasting value for its investors. His career has been deeply rooted in the world of private equity, where he has built a reputation for his expertise in industrial and consumer sectors. Before co-founding BayPine, Forste spent over two decades at global private equity giant KKR (Kohlberg Kravis Roberts & Co.), where he was a pivotal member of the investment team.
At KKR, Forste was involved in some of the firm's most significant transactions and held leadership positions, including co-head of the Industrials private equity team in the Americas. His experience spans a wide range of investment types, from leveraged buyouts to growth equity. In co-founding BayPine, he and his partner David Roux sought to create a new kind of investment firm, one that combines traditional private equity strategies with a deep focus on digital transformation to help companies navigate the modern economy. This approach reflects his forward-looking perspective on how to build resilient and competitive businesses.
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Adam Forste, born around 1978, is one of the co-founders of the colossal logistics giant Lineage, Inc. His roots are in the rigorous world of elite American finance, having grown up outside of Boston. This background instilled in him the discipline and high-level financial acumen required to execute large-scale, generational platform acquisitions.
Forste’s education was exceptionally distinguished. He graduated from Dartmouth College with a Bachelor of Arts/Science degree. Demonstrating a commitment that transcended finance, he was also named a Fulbright Fellow, which led him to teach at a non-profit business school and establish an endowment in South Africa. This unique combination of Wall Street training and global service experience provided the framework for his philosophy of 'compounding capital' over a very long duration with a foundational societal purpose.
Adam Forste began his career in investment banking at Morgan Stanley, working in both New York and San Francisco, where he specialized in M&A and covering financial sponsors. In 2003, he moved to the elite private equity firm KKR (Kohlberg Kravis Roberts), where he executed power and consumer investments, gaining experience in complex, multi-billion dollar transactions.
The defining chapter began in early 2008 when he and former Morgan Stanley colleague Kevin Marchetti co-founded Bay Grove, their holding company. Their strategy was simple yet brilliant: to build a platform business focused on compounding capital long-term. The result was the launch of Lineage Logistics, beginning with the acquisition of a 'single warehouse in Seattle' in late 2008. Through relentless, strategic growth involving nearly 120 acquisitions, they transformed Lineage into the world's largest cold storage company. The successful, massive IPO of Lineage in 2024, which raised nearly $5 billion, cemented Forste's status as a top-tier private equity entrepreneur.
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Graduates from Dartmouth College.
Worked in investment banking at Morgan Stanley.
Worked in private equity at KKR, focusing on major transactions.
Served as a Fulbright Fellow in South Africa, teaching at a non-profit business school.
Co-founded Bay Grove with Kevin Marchetti.
Launched Lineage Logistics with the acquisition of a 'single warehouse in Seattle'.
Lineage went public in a massive IPO, raising nearly $5 billion.
Holds the title of Co-Executive Chairman of Lineage and Managing Partner of Bay Grove.
Adam Forste’s self-made fortune is almost entirely tied to his co-founding of Bay Grove (the owner-operator firm) and the resulting infrastructure powerhouse, Lineage, Inc., where he serves as Co-Executive Chairman. He and his co-founder split an estimated 38% stake in the colossal company.
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Adam Forste's personal philanthropy is marked by a unique blend of global educational support and local community service. This is a direct reflection of his early career experiences as a Fulbright Fellow in South Africa.
His key social contribution is institutional, deeply integrated with the mission of Lineage Logistics. The company's vision is centered on 'preserving, protecting, and optimizing the distribution of food' globally, thus playing a vital role in minimizing supply chain waste and advancing food safety. He also actively supports the Global Cold Chain Foundation, which advances the logistics industry for food preservation. On a personal level, his commitment to community was demonstrated in 2023 when he 'helped save' the local institution 'Hungry Jack’s General Store' near his Wyoming residence from going out of business. He also continues to support the endowment of 'TSIBA', the non-profit business school he taught at in South Africa.
Adam Forste’s style is that of a modern, well-traveled private equity titan: highly polished, fitness-oriented, and subtly rugged, reflecting his move from Wall Street to the Western US. His public appearances often feature the sharp, custom-tailored look expected of a major financial executive, but with a focus on performance and function. He is an avid sportsman, playing rugby and squash during his college years.
His lifestyle reflects a clear preference for private, high-value experiences over urban flash. He lives near Wilson, Wyoming, enabling him to enjoy skiing, fishing, and hiking, despite the logistical challenges it poses for managing a global company. His most notable possession is his large equity stake in Lineage, the infrastructure giant that is literally the 'world's food infrastructure'. His high status is subtly asserted through his global philanthropic and board roles, placing him at the intersection of international business and impactful governance.
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“While Lineage has already achieved significant growth since its founding in 2008, the company remains as committed as ever to its promise of preserving, protecting, and optimizing the distribution of food.”
“The idea was to build a platform business we could use to compound capital over a very long duration.”
“From the acquisition of our first warehouse, we have been able to build Lineage by having great investors.”
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+0.02% | +$0.89M
-0.31% | -$8.44M
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