Exeter Property Group has raised $1.28 billion for its Exeter Industrial Value Fund IV, per a SEC filing. The Conshohocken-headquartered firm began fundraising in 2016 with a $1 billion target.
Its previous fund raised $832 million in 2014.
Investors that committed to Exeter Industrial Value Fund IV include the San Antonio Fire and Police Pension Fund, Pennsylvania Public School Employees' Retirement System and the Texas Permanent School Fund.
The fund will target value added opportunities in industrial properties in the United States.