EQT Exeter strengthens footprint in Asia – adds logistics real estate specialists in Japan and Korea
Thu, January 27, 2022 23:00 CET
EQT AB (publ) is pleased to announce that Bear Logi, a value-add logistics investment manager headquartered in Tokyo, Japan and Seoul, Korea, will join EQT Exeter to further strengthen its presence in Asia.
Founded in 2009 in Tokyo, Japan, Bear Logi is a value-add logistics investment manager with approximately 25 employees focused on acquisition, development, construction and leasing with extensive knowledge of the Japanese and Korean logistics markets. To date, Bear Logi has invested capital on a per asset basis and, as part of EQT Exeter, will create a fund structure within logistics properties similar to EQT Exeter’s existing structure in the US and Europe.
The Bear Logi team, including its Co-CEOs Matthew Zann and James Muir, will work with EQT Exeter’s China Logistics team to create an EQT Exeter APAC Logistics platform. The aim is to build on existing logistics property acquisition and development strategies in Tier 1 cities and logistics hubs in Japan, Korea and China.
Strategic rationale
- Bear Logi’s capable team, with in-depth local market knowledge and relationships, will provide EQT Exeter with direct access to the attractive logistics markets in Japan and Korea, with strong potential for scalability in the broader APAC region, such as Australia
- Bear Logi will leverage EQT Exeter’s global track record and strong tenant relationships of 1,200+, as well as EQT’s 2,000+ corporate relationships and broader platform, including fundraising support, sustainability and digitization expertise and the benefits of the operating platform
- The combination with EQT Exeter’s existing operations in China will offer EQT fund investors greater investment opportunities with an integrated development and operations platform for investors in APAC logistics
- EQT Exeter and Bear Logi share a strong cultural fit and similar investment philosophies, focused on vertically integrated real estate investing and committed to sustainability and ESG principles
Ward Fitzgerald, Partner and Head of EQT Exeter said: “We are delighted to welcome Matthew, James and the rest of the Bear Logi team to the EQT Exeter family as we continue to expand our logistics real estate platform in the APAC region . With their complementary local market knowledge and deep industry relationships, our combination with Bear Logi is the next step in EQT Exeter’s journey and strengthens our position as a global, multi-strategy real estate market leader.”
Matthew Zann, Co-CEO of Bear Logi, said: “We are pleased to be working with Ward, EQT Exeter and the broader EQT platform to further expand the APAC logistics platform. The partnership will create new growth opportunities in the region as we leverage our local insights and relationships and combine them with EQT Exeter’s global logistics real estate expertise.”
James Muir, Co-CEO of Bear Logi added, “Partnering with EQT Exeter not only accelerates our capabilities, but also strengthens our operating platform and our ability to provide access to a broader customer base in the growing APAC logistics market.”
It is estimated that Bear Logi will generate approximately $1 million in revenue in 2021. The transaction is not expected to have a material impact on EQT AB’s financials and will not add assets under management to EQT AB at closing. The closing took place on January 27, 2022.
Disclaimer
This press release contains forward-looking statements. Forward-looking statements address expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar statements regarding matters that are not historical facts. In some instances, you can identify forward-looking statements by using forward-looking terminology such as “may”, “will”, “should”, “expects”, “intends”, “plans”, “anticipates”, “believes”, “estimates”, ” predicted” or “potential” or the negative of those words and phrases or similar words or phrases that are or indicate predictions of future events or trends and which are not related solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond EQT’s control, which could cause actual results to differ materially from those projected in the forward-looking statements. All forward-looking statements reflect EQT’s good beliefs, assumptions and expectations, but are not guarantees of future performance. In addition, EQT disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, data or methods, future events or any other changes.
Contact
EQT Press Office, [email protected], +46 8 506 55 33
About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a nearly three decade track record of delivering consistent and attractive returns across multiple regions, sectors and strategies. EQT is the only large private markets firm in the world with investment strategies that span all stages of corporate development, from inception to maturity. EQT today manages €73.4 billion in assets across 28 active funds across two businesses – Private Capital and Real Assets.
With its roots in the Wallenberg family’s entrepreneurial mindset and long-term ownership philosophy, EQT is guided by a strong set of values and culture. EQT manages and advises funds and vehicles that invest globally with the mission to future-proof companies, generate attractive returns and create a positive impact with everything EQT does.
The EQT AB Group includes EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds and companies that advise EQT funds. EQT has offices in 24 countries in Europe, Asia Pacific and the Americas and employs around 1,200 people.
More info: www.eqtgroup.com
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About EQT Exeter
EQT Exeter is a global real estate solutions provider, serving corporate and consumer tenants with scale and scope. EQT Exeter is one of the largest real estate investment managers in the world, focusing on the acquisition, development and management of logistics/industrial, office, life science and residential properties in Europe, America and Asia. EQT Exeter was formed through the combination of EQT Real Estate and Exeter Property Group.
The EQT Exeter team consists of more than 300 experienced professionals based in nearly 40 regional offices around the world. Together they have made over 830 real estate investments. As part of EQT, the team has access to the entire EQT network, including more than 600 industry consultants around the world, as well as EQT’s industry-leading sustainability credentials and frameworks, as well as in-house digitization capabilities.
About Bär Logi
Bear Logi is a Tokyo and Seoul based commercial property company with a proven track record of providing quality real estate solutions in Japan and Korea. Bear Logi provides real estate investment advice, property due diligence and comprehensive design, project and construction management services for commercial real estate projects.
The Bear Logi team consists of 25 employees working in Japan and South Korea. The group has advised and co-invested to build large multi-tenant and infill properties and last-mile distribution centers primarily to meet the needs of growing e-commerce tenants.
More info: www.bearlogi.com
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