Exeter Core Industrial Club Fund III holds $1.3b final close

The Exeter Core Industrial Club Fund III, managed by Exeter Property Group, has held a final close with $1.3 billion in capital commitments, reaching its fundraising target.

Launched in March, the closed-end fund targets logistics and industrial properties throughout the United States.

Investors included the Tennessee Consolidated Retirement System, the Pennsylvania Public School Employees’ Retirement System and the New Jersey Division of Investment, which each committed $100 million to the fund.

Exeter is a real estate investment management firm specializing in the acquisition, development, leasing, and management of industrial and related business park properties across North America and Europe, according to the firm’s website.

The firm operates an array of value-add and core return private equity investment vehicles.

The previous fund in the series, Exeter Core Industrial Club Fund II, is a 12-year fund with a strategy to build a diversified