Private equity firm TA Associates said Tuesday it has sold its funds’ ownership interest in Exeter Property Group to EQT AB (EQT).
”The $1.87 billion sale was completed on April 1, 2021 after all necessary closing conditions were achieved,” said TA Associates in a statement.
Upon closing, Exeter and EQT’s real estate businesses have combined as EQT Exeter.
“Exeter Property Group is a category leader investing in industrial real estate globally,” said Roger Kafker, a Senior Advisor at TA Associates. “It has been a pleasure to be partnered with Ward Fitzgerald, Tim Weber and the entire Exeter team to help the firm accomplish its goals.”
“We chose to partner with TA because of the firm’s management-friendly approach and deep experience investing in the asset management sector,” said Ward Fitzgerald, Co-Founder and CEO, Exeter Property Group, and Partner and Head, EQT Exeter.
“In addition to financial backing, TA provided significant strategic and tactical support that proved helpful in implementing our growth initiatives. We believe the extensive discussions with TA regarding long-term strategy has positioned us well for further growth and leadership within the real estate investment management sector,” he added.
.){kind=link}