Despite being amid global macroeconomic uncertainty, EQT Exeter believes that current conditions for acquisitions are fertile, as the higher interest rate environment has resulted in reduced asset pricing.
In turn, its EQT Exeter Industrial Value Fund VI has held its final close at $4.9 billion in fee-generating assets under management.
The company said that sustained high occupancy nationally and the elevated cost to build new facilities "have led to remarkable rental rate growth."
The fund's value-add strategy will focus on acquiring and developing industrial properties with an emphasis on single-tenant, modern supply chain asset including big box fulfillment center and last-mile assets.
Similarly, about eight months ago EQT Exeter closed its EQT Exeter Industrial Core-Plus Fund IV at an oversubscribed $3 billion in equity commitments, exceeding the $2.5 billion goal.
This time, demand from existing and new investors was again strong, with commitments coming from a diverse group of pensions, foundations, insurance, and sovereign clients across North America, South America, Europe, Asia, and the Middle East.
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