EQT Exeter Europe Logistics Value Fund IV closes at EUR 2.1 billion hard cap following strong support from existing and new international blue-chip investors
EQT Exeter Europe Logistics Value Fund IV 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
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
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
About EQT Exeter
EQT Exeter was created through the combination of EQT’s real estate business and Exeter Property Group in 2021. EQT Exeter is among the largest real estate investment managers in the world, focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties. EQT Exeter applies a thematic investment strategy and value-creation approach. With almost 40 regional offices and 260+ professionals across the Americas, Europe and Asia, EQT Exeter combines local execution with global scope to deliver superior real estate solutions to tenants while providing investors with some of the industry’s leading and most consistent returns across value-add and core-plus strategies.
More info: www.exeterpg.com
EQT is pleased to announce that the EQT Exeter Europe Logistics Value Fund IV (the “Fund”) has held its final close at its hard cap of EUR 2.1 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+ 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+ real estate professionals (60+ 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, favorable 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 capitalize 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.
Ward Fitzgerald, Partner and Head of EQT Exeter, commented, “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.”
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.”
EQT Exeter Europe Logistics Value Fund IV is backed by a highly regarded, international investor base including public and corporate pension funds, sovereign wealth funds, insurance companies, global asset management firms, commercial banks, endowments, foundations and family offices.
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