Cabot Properties has launched its first U.K.-focused industrial fund, according to board meeting documents from the Pennsylvania Public School Employees’ Retirement System (PSERS). Cabot Properties did not comment on its fundraising efforts.
The closed-end fund, Cabot U.K. Core Plus Industrial Fund, will focus on industrial and logistics investments in the United Kingdom and has a core-plus investment strategy. According to IREI’s FundTracker database, the firm is seeking a maximum fundraise amount of £250 million ($331 million).
PSERS plans to commit £50 million ($66 million) to the fund.
In 2002, Cabot Properties was formed to build on Cabot’s track record in the industrial property business in a private equity format. Over the course of 2002 and 2003, Cabot raised $420 million from institutional investors to form Cabot Industrial Value Fund I. Through May 2004, Fund I closed on 51 transactions in 12 markets throughout the United States. It is still i
