New York State Common Retirement Fund (NYSCRF) has become the latest US pension fund to back Exeter Property鈥檚 latest European logistics fund.
NYSCRF said it has approved a 鈧�200m commitment to Exeter Europe Logistics Value Fund IV, a value-add fund targeting a 鈧�1.25bn fundraise.
The pension fund told 91传媒在线 that it made the commitment to the Exeter fund because it wanted additional exposure to the industrial property sector and non-US investments.
鈥淭he industrial property sector is expected to be the best performing real estate sectors in Europe,鈥� NYSCRF said.
As previously reported, the fund has received capital commitments from US investors including the New Mexico State Investment Council, Teachers鈥� Retirement System of Louisiana and Los Angeles Fire and Police Pensions.
The fund also recently received a commitment from New York State Teachers Retirement System.
According to industry sources, the fund targets assets that can produce a mid-double-digit range net internal rate of returns.
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