PSERS commits $100m to latest Exeter industrial value fund

The Pennsylvania Public School Employees’ Retirement System (PSERS) has approved a commitment of up to $100 million in the Exeter Industrial Value Fund V, managed by Exeter Property Group, according to an investment board meeting resolution released Oct. 11.

The Exeter fund’s predecessor, Exeter Industrial Value Fund IV, closed with $1.3 billion in capital and focuses on logistics assets such as big box warehouses and last-mile distribution facilities in primary U.S. markets. The commingled fund started investing in 2017.

The Tennessee Consolidated Retirement System (TCRS) also recently committed $100 million to Exeter’s latest fund.

PSERS has also announced that its net assets have increased by more than 4 percent to $59.1 billion in the fiscal year ending June 30. The $2.4 billion asset increase was generated by solid investment returns and ongoing budgeta