Florida State Board of Administration (SBA) has disclosed it contributed to the €2.1bn raised by EQT Exeter’s European logistics value-add fund.
The pension fund said it approved a €75m commitment to the Exeter European Logistics Value Fund IV fund which closed at its hard cap in July.
“We have increased our exposure in Europe because it is consistent with our current philosophy of industrial as a targeted property type for us on a global basis,” Florida SBA told IPE Real Assets.
Florida SBA has also approved $100m (€86.3m) each into the Carlyle Realty Partners IX fund and to CBRE Asia Value Partners VI, a value-add Asia real estate investment fund which raised $1.74bn at its close last month.
As previously reported, Carlyle Realty Partners IX is planning to raise $6bn.
The Carlyle Realty Partners IX fund is attractive because it ”seeks to limit exposure to sectors where demand is driven by GDP and will focus on demographically driven sectors such as active adult apartments, self-storage, student housing, senior housing and lab space”, the pension fund said.
Florida SBA said it committed to the CBRE Investment Management logistics fund because “we believe there is a compelling growth story in Asia.”
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