The EQT Exeter Europe Logistics Value Fund IV (the Fund) has held its final close at its hard cap of EUR2.1 billion in fee-paying assets under management.
Demand from both existing and new investors was exceptional resulting in the Fund being significantly oversubscribed with commitments coming from a diversified group of high-quality investors across North America, Europe, Asia and the Middle East.
The fund will pursue a value-add strategy 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. EQT Exeter has employed similar value-add strategies throughout its series of US and European logistics value-add funds which have significantly outperformed the market. The senior management team of EQT Exeter focused on logistics has worked together for over 17 years, averages 22-plus years of experience in the real estate industry and has demonstrated its ability to manage the full value chain of logistics real estate investments across numerous markets and through multiple growth, income, recessionary and recovery real estate market cycles.
The Fund benefits from EQT Exeter’s “local with locals” approach with 40 global offices (14 in Europe) and its vertically integrated team of 260-plus real estate professionals (60-plus in Europe) with deep expertise in acquisitions, dispositions, development, construction, leasing, asset and property management, finance, legal, compliance and accounting. EQT Exeter’s local presence enables a targeted selection of submarkets and properties, favourable cost basis due to one-off, small deal sourcing, and full ownership/control of assets. Furthermore, with over 1,200 global tenant relationships, the Fund will capitalise on EQT Exeter’s “tenant-centric” philosophy whereby customer demand, discussions with corporate executives and up-to-the-minute information from corporate heads of real estate and their tenant broker representatives will strongly influence the Fund’s investment and property operating decisions. Knowledge gained through EQT Exeter’s presence in the field and frequent communication with tenants is expected to allow the Fund to offer properties which provide the functionality and location that tenants most desire.
Read more/Source: Private Equity Wire
