The New York State Common Retirement Fund (NYSCRF) has committed €200 million ($243 million) to Exeter Europe Logistics Value Fund IV, according to a transaction report from April.
The value-add fund, managed by Exeter Property Group, will focus on the acquisition and development of industrial assets in Europe. The fund 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.
Exeter Europe Logistics Value Fund IV 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.
Exeter is an existing relationship for NYSCRF.
