Orange County Employees Retirement System has made a €90m commitment to EQT Exeter’s latest European logistics fund.
The pension fund disclosed in a board meeting document that it had backed EQT Exeter Europe Logistics Value Fund V due to its belief that the European logistics sector is positioned to outperform other major sectors in the region over the coming years.
As previously reported, EQT Exeter is seeking to raise €2.5bn for the value-add fund.
Orange County Employees noted that increased e-commerce adoption and a lack of new construction in Europe could lead to potential near-term rental rate growth, adding that logistics properties in the region have been repriced over recent years.
As part of the commitment to the EQT Exeter fund, Orange County Employees secured discounts that will result in its overall fees being below market levels.
The commitment represents the pension fund’s first real estate investment for 2025. This follows a real estate investment plan approved in March that allocated $100m (€85.2m) for core and up to $300m for non-core.
Orange County Employees said it also added to its real assets portfolio with a $100m commitment to the ISQ Global Infrastructure Fund IV.
I Squared Capital is seeking to raise $15bn for ISQ Global Infrastructure Fund IV to be used to build a diversified portfolio of 25 to 30 investments in middle-market and larger opportunistic assets.
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