The $22.6 billion New Mexico State Investment Council has committed $75 million to Exeter Europe Value Venture III, according to Charles Wollmann, director of communications, legislative and client relations at the pension fund.
Exeter Europe Value Venture III, managed by Exeter Property Group, is a value-added real estate fund that invests in industrial assets throughout Europe, specifically in Belgium, Czech Republic, France, Germany, Italy, Luxembourg, Poland, Spain and the United Kingdom. The fund is seeking to raise €700 million ($822 million) in maximum commitments.
Through its funds, Exeter acquires, develops and manages big-box warehouse, multi-tenant logistics, and select suburban and urban office and multifamily properties out of multiple regional offices.
Exeter Europe Value Venture III is the firm’s first commingled Europe-focused fund. Its predecessor funds are two European separate accounts that launched in 2014 and 2015.
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