EQT AB ownership interest in Exeter Property Group from TA Associates, a global growth private equity firm. The $1.87 billion sale was completed on April 1 after all necessary closing conditions were achieved. Upon closing, Exeter and EQT’s real estate businesses have combined as EQT Exeter. Exeter is a real estate investment management firm focused on acquiring, developing, leasing and managing industrial, office and related business park properties across the U.S. and Europe through an array of value-add and core return private equity investment vehicles.
“We chose to partner with TA because of the firm’s management-friendly approach and deep experience investing in the asset management sector,” said Ward Fitzgerald, co-founder and CEO, Exeter Property Group, and partner and head, EQT Exeter. “In addition to financial backing, TA provided significant strategic and tactical support that proved helpful in implementing our growth initiatives. We believe the extensive discussions with TA regarding long-term strategy has positioned us well for further growth and leadership within the real estate investment management sector.”
“We believe Exeter has a unique investment and execution model making local deals with local teams across 36 U.S., European, Asian and South American markets, and these capabilities have helped Exeter produce enviable returns since its founding in 2007,” said Roy Burns, a managing director at TA Associates. “We are pleased to have partnered with Ward in support of Exeter’s strategic objectives, and we are excited to see what Exeter can accomplish as part of its next phase of growth.”
Goodwin Procter provided legal counsel to TA Associates.