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Laxman Pai, Opalesque Asia: EQT Exeter closed European logistics fund EQT Exeter Europe Logistics Value Fund IV at €2.1 billion ($2.5 billion).
According to a press release from the global investment organization, this is the first vehicle to close after the combination of EQT's real estate business and Exeter Property Group.
The Fund IV, which closed at its hard cap, was oversubscribed with commitments from a diversified group of new and existing investors including public and corporate pension funds, sovereign wealth funds, insurance companies, global asset management firms, commercial banks, endowments, foundations, and family offices across North America, Europe, Asia, and the Middle East.
Among investors was the $254.8 billion New York State Common Retirement Fund, Albany, which committed €200 million, according to its website.
The value-added strategy is focused on acquiring, developing, leasing, operating, and selling big-box warehouse facilities as well as last mile and light industrial properties in Western Europe.
Ward Fitzgerald, partner and head of EQT Exeter, said: "The successful fundraise of EQT Exeter Europe Logistics Value Fund IV validates our proven 15+ year track record of value creation due to our locals with locals vertically integrated operating model.
"We look forward to working with our new colleagues at EQT to continue to outperform and provide strong returns to the fund's investors," Ward added.
Paul Rubincam, Partner and Co-...................... To view our full article Click here
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