Ohio Police & Fire Pension Fund has disclosed making a $50m (€45.6m) commitment to the EQT Exeter Industrial Core Plus Fund IV fund.
As reported recently, the Pennsylvania Public School Employees’ Retirement System also approved a $100m commitment to EQT Exeter’s fourth US core-plus logistics fund.
The fund has a $3.2bn hard cap target and is expected to close soon. The previous fund in the series raised $1.3bn in October 2019.
Ohio Police & Fire told IPE Real Assets: “EQT Exeter is an experienced specialist in the industrial sector, through the strength of their platform and track record.”
Ohio Police & Fire’s commitment represents the pension fund’s first real estate commitment so far this year.
The pension fund is planning to invest in funds in a mixture of core and non-core with a projected amount of up to $400m.
The plan includes investing up to $200m in core assets and between $140m and $200m in non-core real estate.
The pension fund’s real estate portfolio which is worth $1.8bn represents 9.7% of its total assets compared with a 12% real estate target allocation.
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