EQT has announced the final close of EQT Exeter Europe Logistics Value Fund IV at its hard cap of €2.1 billion.
The fund plans to acquire, develop, redevelop, lease, operate and sell supply chain and e-commerce focused big box warehouse, last mile and light industrial properties serving major markets throughout Europe.
The fund is the first vehicle to close after the combination of EQT’s real estate business and Exeter Property Group, which was completed in April 2021.
“I would like to thank our repeat and new investors for their support of the latest flagship vehicle in EQT Exeter’s European logistics value-add fund series. 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,” said Ward Fitzgerald, Partner and Head of EQT Exeter.
Paul Rubincam, Partner and Co-Head of the EQT Exeter Europe Advisory Team, commented, “We are confident that given the strong pipeline and the team’s ability to utilize its leasing, tenant relationship, development and asset management skills to effectuate value-add outcomes, we will successfully advise on the deployment the Fund’s capital and delivery of its superior performance.”
Lennart Blecher, Head of Real Assets’ Advisory Teams, Deputy Managing Partner and Chairperson of EQT Exeter, commented, “The closing of the fund marks an important milestone following the completion of the combination of EQT’s real estate business and Exeter. This represents not only a great fundraising by Ward and the Exeter team but also a concrete contribution to the scaling of our real estate platform which is a crucial part of EQT AB’s global growth strategy. EQT Exeter will be working closely together with the entire EQT platform across Europe and the Fund will be able to capitalize on thematic real estate investment opportunities in the market.”