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Los Angeles Department of Water and Power backs Brookfield, EQT Exeter funds
Investors - NOVEMBER 18, 2022

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Los Angeles Department of Water and Power backs Brookfield, EQT Exeter funds

by Kali Persall

The Los Angeles Department of Water and Power Employees’ Retirement Plan (LADWP) has unanimously approved two investments in real estate funds managed by Brookfield and EQT Exeter.

The pension fund slated $75 million each for Brookfield Premier Real Estate Partners (BPREP) and EQT Exeter Industrial Value Fund VI (EIVF VI), according to meeting minutes.

BPREP is an open-ended, commingled fund that primarily invests in high-quality stabilized office, multifamily, logistics and alternative real estate assets in major U.S. markets.

EIVF VI is a closed-end, commingled fund that will acquire, develop and aggregate a portfolio of modern class A regional distribution and last-mile logistic properties in the United States. Fund VI will secure 200 to 250 individual big-box warehouses, last-mile warehouses and industrial service facilities in major U.S. population centers and distribution hubs. The vehicle has a $4 billion fundraising target.

As of June 30, LADWPâ

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