Institution: San Antonio Fire and Police Pension Fund
Headquarters: San Antonio, US
AUM: $4.39 billion
Allocation to alternatives: 40.3%
San Antonio Fire and Police Pension Fund has confirmed a commitment of $30 million to EQT Exeter Industrial Value Fund VI, according to recently released documents from the pension’s April 20 investment committee meeting.
This is a re-up commitment, with SAFPPF previously investing in Funds II through V within the EQT Exeter Industrial Value Fund series. The Exeter Industrial Value Fund series (I-V) has totaled $5 billion in equity commitments since 2007.
EQT Exeter is a real estate investment management firm specializing in the acquisition, development, leasing and management of industrial, office and related business park properties through an array of value-add and core return private equity investment vehicles.
San Antonio Fire and Police allocates 7.1 percent of its investment portfolio to private real estate, comprising around $312 million in capital. It has a target allocation to real estate of 7 percent.
As illustrated below, the pension’s recent real estate commitments have tended to focus on North American industrial vehicles that target value-add or debt-focused returns.
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