Two logistics funds generate nearly €2b in equity raises
The industrial and logistics sectors had a record year in 2020, increasing their share of investors’ interest and capital. 2021 has set off on a similar footing, with two megafunds announcing equity raises for vehicles focused on the sectors.
GLP has raised an additional €500 million for its pan-European logistics fund, GLP Europe Income Partners II (GLP EIP II), bringing the total capital raised to €1.6 billion. The fund exceeded its original fundraising target and, with leverage, will reach €3.2 billion of assets under management once fully deployed. GLP EIP II is seeded with a portfolio of logistics assets in Europe, which have an average building age of less than five years.
The other fund, Exeter Europe Logistics Value Fund IV, managed by Exeter Property Group, has raised €389.3 million of its €1.2 billion target. It will primarily search for logistics and industrial assets in Western Europe that are under-leased. The fund is expected to invest nearly