Cabot Properties is seeking to raise $175m (€145.2m) for its latest industrial development fund, according to an investor.

Teachers’ Retirement System of Louisiana (TRSL) said in a meeting document that it has approved a $25m commitment to the Cabot Industrial Value Fund VI Development Fund.

The fund, which will be investing in the US, UK, Germany and the Netherlands, plans to develop vacant, speculative and build-to-suit industrial properties. The projected breakdown of the fund will be 80% in the US and 20% in Europe.

TRSL said in the meeting document that the fund intends to make 6 to 10 investments in total as it targets equity investments ranging from $9m to $45m.

The pension fund has also approved a $75m commitment to Carlyle Credit Opportunities Fund II, a fund seeking a $3.5bn fundraise.

The fund, which will mostly invest capital in the US and Europe, targets credit opportunities that arise from liquidity needs resulting from borrowers’ limited access to typical capital markets or market disruption.

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