The firm says that more than 100 investors committed $420 million to Cabot's fund.

Cabot was formed by the senior executives from Cabot Industrial Trust, a company that was sold in a $2.1 billion transaction in December 2001. Cabot Industrial Trust was a New York Stock Exchange REIT that went public in January 1998.

"We are delighted that so many well-established investors are willing to support the Cabot team as we continue our industrial investment specialty in our new fund format," says Robert E. Patterson, senior partner of Cabot.

Cabot Industrial Value Fund will be the firm's exclusive investment vehicle during its investment period. The fund will invest in US real estate with a focus on industrial properties. The strategy will be to acquire, develop, redevelop and manage industrial properties throughout the country.

Franz Colloredo-Mansfeld, managing partner of Cabot Properties notes, "The equity we have raised when combined with the additional borrowing capacity of the fund provides us with the opportunity to invest up to $1.2 billion. We believe we will find compelling investment opportunities over the next three years."

Credit Suisse First Boston acted as an exclusive placement agent for the fund. Cabot's investment strategy is focused on major industrial property markets throughout the US.