EQT Exeter closes industrial fund at $3bn

EQT Exeter closes industrial fund at $3bn

Global real estate firm EQT Exeter has closed its EQT Exeter Industrial Core-Plus Fund IV with $3 billion of equity commitments, exceeding the fund’s $2.5 billion target.

EQT Exeter Industrial Core-Plus Fund IV raised the capital from ‘a diversified group of valued investors’ across North America, Europe, Asia and the Middle East, according to a statement Monday.

The fund plans to focus on Class A, single-tenant big box distribution, fulfillment center, last mile logistics properties, and industrial service facilities (ISFs)

EQT Exeter said the fund seeks to provide stable cash flow for its investors by acquiring high occupancy, long term leased industrial assets.

Gardner Ellner, Brian Serpico, and Tom Meehan are Portfolio Managers of the fund.

Ellner commented, “With our strong history of a hands-on approach to leasing, tenant relationships and asset management, we believe that EQT Exeter’s 24 local teams are better positioned than ever to identify and execute on attractive core-plus investments as we navigate the risks and opportunities of the current capital markets environment.”

Ward Fitzgerald, Head of EQT Exeter, said, “I would like to thank our existing and new investor partners for their support of EQT Exeter’s US industrial core-plus fund series. When also considering the recent close of our US Office Life Science Value Fund II, these successful fundraises enable us to secure the benefits of scale for our clients: helping our investor clients build a diversified real estate portfolio of which these funds are a component, and offering our tenant clients comprehensive real estate solutions across property types. Most importantly however, we know in this tumultuous cycle of inflation, our clients’ beneficiaries – retirees, teachers, police, fire, and medical workers, and civil servants need increased performance of their pensions to pay bills and live without anxiety. We look forward to continuing to serve our customers as one of the highest-performing real estate investment managers in the world.”