The $23.92 billion Los Angeles Fire & Police Pension System (LAFPP) has earmarked $50 million for the Exeter U.S. Industrial Value Fund (EIVF) V, managed by Exeter Property Group. The pension fund also approved a $35 million commitment to a value-add fund managed by Nordic Real Estate Partners.
The investments closed in December 2019.
The Exeter fund series focuses on logistics assets such as big-box warehouses and last-mile distribution facilities in the top 30 U.S. distribution markets. All five of the funds in the fund series have earned more than $5 billion in equity commitments since 2007, according to the latest information on the firm’s website. EIVF V commenced investing in 2020, EIVF IV is fully invested, and EIVF I, II and III are substantially realized.
The second fund, NREP Nordic Strategies Fund IV is targeting €1.25 billion ($1.4 billion) to invest in value-add logistics, student housing, serviced living, care homes and other senior housing
