At a glance
- The manager has not set a fundraising goal for the fund, according to IREI, which first reported the commitment.
- The pension's real estate sleeve stood at $6.8 billion as of March 31 against an 8 percent allocation target, leaving room for a commitment of this size.
- The $100 million commitment is a small but deliberate allocation, and it maintains EQT Exeter's momentum in a category that continues to attract institutional money.
Pennsylvania Public School Employees' Retirement System is putting $100 million into EQT Exeter Industrial Core-Plus Fund V, a closed-end vehicle from EQT Real Estate that invests in U.S. industrial and logistics properties. The manager has not set a fundraising goal for the fund, according to IREI, which first reported the commitment.
The pension's real estate sleeve stood at $6.8 billion as of March 31 against an 8 percent allocation target, leaving room for a commitment of this size. PSERS' total assets were $85.7 billion at the same date. The new fund's predecessor, Fund IV, closed with $3 billion in equity commitments in 2022.
The $100 million commitment is a small but deliberate allocation, and it maintains EQT Exeter's momentum in a category that continues to attract institutional money. With no target set, Fund V's ultimate size will depend on how many other limited partners follow PSERS' lead.
Reported by the Who's investing desk from Institutional Real Estate, Inc.. Published . Corrections