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Sign in Sign up for a FREE subscriptionLAFPP invests $40m in Exeter Europe Logistics Value Fund IV
The Los Angeles Fire & Police Pensions (LAFPP) has closed a commitment of up to $40 million to the Exeter Europe Logistics Value Fund IV, a value-add fund managed by Exeter Property Group.
Exeter Europe Logistics Value Fund IV is seeking to raise €1.25 billion ($1.5 billion) in capital commitments and will primarily invest in Western European logistics and industrial assets that are under-leased and under-managed.
The fund is expected to invest nearly half of the capital raised in Germany and the United Kingdom, with 15 percent to 20 percent going to France and the Benelux countries. Other potential markets include the Czech Republic, Italy, Poland and Spain.
As of mid-January, the fund had collected $473 million from 17 investors, including the New Mexico State Inv