<p>The US-focused Exeter Industrial Value Fund IV is oversubscribed, according to a board meeting document from Texas Permanent School Fund, which is investing in $75m the fund.</p>
<p>A second recent commitment of $100m has been approved by the New York State Teachers Retirement System (NYSTRS).</p>
<p>Around 50% of the capital will be invested in ‘big box’ logistics warehouses, with another 40% in ‘last mile’ assets and the rest in light manufacturing properties.</p>