Brookfield Asset Management has agreed to acquire World Freight Company from EQT and PAI Partners in a deal valued at approximately $1.2 billion. The Paris-headquartered company operates as a general sales and service agent for airlines, managing cargo capacity across more than 300 entities in 80 countries.

EQT and PAI originally purchased World Freight Company in 2018 for over €600 million, holding equal 50% stakes after Baring Private Equity Asia merged into EQT in 2022. The sellers previously explored exiting the business in 2021 with a target exceeding €1.5 billion, though that process did not conclude successfully.

The acquisition comes amid volatile air freight markets, as the Iran conflict has driven up fuel costs and air cargo rates globally. Despite short-term volume disruptions, elevated yields have provided some offset. Brookfield's willingness to proceed at $1.2 billion signals confidence in the company's contractual revenue model tied to airline cargo partnerships.

This transaction represents one of the more prominent exits for the EQT-Baring platform, which has been actively monetizing legacy investments while redirecting capital toward newer thematic opportunities.