EQT Exeter strengthens footprint in Asia – adds logistics real estate specialists in Japan and Korea

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 footprint in Asia.

Bear Logi, founded in Tokyo, Japan in 2009, is a value-add logistics investment manager with around 25 employees focused on acquisitions, development, construction and leasing, with extensive knowledge of the Japanese and Korean logistics markets. To date, Bear Logi has invested capital based on single asset funding, and will as part of EQT Exeter create a fund-setup 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, together with EQT Exeter’s China Logistics team, create an EQT Exeter APAC Logistics platform. The ambition is to build on existing strategies of acquiring and developing logistics properties in Tier 1 cities and logistic hubs across Japan, Korea and China.

Strategic rationale

l  Bear Logi’s skilled team, with deep local market knowledge and relationships, will provide EQT Exeter with direct access to the attractive logistics markets in Japan and Korea, with strong scalability potential in the broader APAC region, for example, Australia

l  Bear Logi will leverage EQT Exeter's global track record and 1,200+ strong tenant relationships, as well as EQT’s 2,000+ corporate relationships and broader platform, including fundraising support, sustainability and digitalization expertise, and operating platform benefits

l  The combination with EQT Exeter’s existing operations in China will provide larger investment opportunities, with an integrated development and investor operating platform, in APAC logistics for EQT’s fund investors

l  EQT Exeter and Bear Logi have a strong cultural fit and similar investment philosophies, focused on vertically integrated real estate investments and a commitment to sustainability and ESG principles

Ward Fitzgerald, Partner and Head of EQT Exeter, said, “We are thrilled 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 expansive industry relationships, our combination with Bear Logi is the next step in EQT Exeter’s journey, strengthening our position as a multi-strategy, global real estate leader.”

Matthew Zann, co-CEO of Bear Logi, said, “We are excited to join forces with Ward, EQT Exeter, and the broader EQT platform to further build out the APAC logistics platform. The partnership will create new growth opportunities in the region as we leverage our local insights and relationships and combine it with EQT Exeter’s global expertise within logistics real estate.”

James Muir, co-CEO of Bear Logi, added, “The partnership with EQT Exeter not only accelerates our opportunities, but also strengthens our operating platform and ability to offer a broader set of clients access to the growing APAC logistics market.”

Bear Logi is estimated to generate approximately USD 1 million in revenues during 2021. The transaction is not deemed to have a material impact on EQT AB's financial numbers and will not add any assets under management to EQT AB at closing. Closing took place on 27 January 2022.