NYSTRS commits $200m to industrial real estate funds
The $109.7 billion New York State Teachers' Retirement System has committed $200 million to two industrial real estate funds, according to spokesman John Cardillo. The commitments comprise $100 million each to Exeter Industrial Value Fund IV and Cabot Industrial Value Fund V.
Exeter Industrial Value Fund IV, managed by Exeter Property Group, is a value-added fund targeting industrial assets in primary U.S. warehouse markets. NYSTRS previously committed $100 million to the fund’s predecessor, Exeter Industrial Value Fund III, in 2013, and $50 million to the first fund in the series, Exeter Industrial Value Fund.
The Exeter fund has received previous commitments from additional pension funds, including the $14.2 billion Ohio Police & Fire Pension Fund, the $52.3 billion