Capital commitments to the Cabot Industrial Value Fund VII have so far amounted to $1.3bn (€1.2bn), according to an SEC filing by the fund.
Cabot Properties is seeking to raise $1.5bn for Fund VII and a $1.75bn hard cap to mainly invest in industrial assets located in North America.
As reported by IPE Real Assets, the fund’s backers include Pennsylvania Public School Employees’ Retirement System, Teachers’ Retirement System of Louisiana and the New York State Teachers Retirement System.
Cabot has the discretion to invest up to 30% of the fund’s capital outside of North America in European countries like the UK, Germany and the Netherlands as well as some Asian countries like Japan and Australia.
Fund VII is allowed to acquire both existing assets as well as invest in new development projects. These transactions would be with mid-size investment opportunities.
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