The $76.15 billion New Jersey Division of Investment has committed up to $100 million Exeter Industrial Core Fund III, according to board meeting documents.
Exeter Industrial Core Fund III is managed by Exeter Property Group, a global real estate manager who focuses on acquiring, developing and managing logistics/industrial and office properties across North America and Europe. The fund will focus on assets in major U.S. markets.
The fund has also previously received commitments of $100 million each from the Pennsylvania Public School Employees' Retirement System and the Tennessee Consolidated Retirement System.
The New Jersey Division has committed to previous Exeter funds. In 2016, it committed $100 million to Exeter Core Industrial Club Fund II, which invests in fully leased industrial assets, and in 2012, it committed $200 mill
