Two billion-euro funds, with a value-add focus, have closed over the summer.

The first, EQT Exeter Europe Logistics Value Fund IV, closed at its hard cap of €2.1 billion. Fund IV will follow a value-add strategy targeting supply-chain and ecommerce-focused big box warehouses, last-mile and light industrial properties, serving markets throughout Europe.

The second fund close was carried out by KKR, which has raised €1.86 billion for its KKR Real Estate Partners Europe II vehicle. The fund is dedicated to value-add and opportunistic real estate investments in Western Europe and will target logistics, residential, student housing, hospitality and high-quality offices.

Another billion-euro fund run by AXA IM Alts, AXA European Life Science Strategy, has secured €1.9 billion of equity in the past seven months. The capital raised will primarily be invested through Kadans Science Partner, an operator of European science parks and lab offices, which AXA acquired i