WASHINGTON, DC, June 5, 2023 – Artemis Real Estate Partners held a final close of its fourth value-add real estate fund, Artemis Fund IV, with approximately $2.2 billion of equity commitments. This builds upon the firm’s strong fundraising momentum, including the firm’s $1 billion Healthcare Fund II which closed in June 2022, as well as over $500 million in a core credit platform in the last eighteen months. Together these closings, totaling over $3 billion in dry powder, provide Artemis with the capacity to take advantage of investment opportunities across the risk spectrum.
Artemis Fund IV received strong support from a diverse group of US and international institutional investors including public and corporate pension funds, sovereign wealth funds, endowments, foundations, and family offices.
Co-CEO’s Deborah Harmon and Alex Gilbert acknowledged Fund IV’s significance for Artemis. “Over the last thirteen years, we have built Artemis on the idea that an experienced, diverse, and entrepreneurial team can deliver outperformance. Today’s announcement demonstrates how that philosophy has fueled our growth. The success of the capital raise has been achieved through the development of our senior team, and in particular the leadership of our co-Presidents, Anar Chudgar and Rich Banjo. As always, we remain grateful for our investors’ trust. It remains a privilege for us to serve our clients and their beneficiaries.”
Artemis is well positioned to capitalize on the market volatility, leveraging the firm’s track record and national operating partner network to invest in a diversified portfolio of U.S. equity and debt investments across property types.
Fund IV co-portfolio managers Rich Banjo and Michael Vu said, “Fund IV positions Artemis to continue investing with our national network of operating partners and will allow us to identify overlooked and situationally distressed opportunities in the marketplace. We believe this fund closing will enable us to capture opportunity at scale across the middle market, particularly in today’s environment. Artemis aims to be the capital provider of choice for opportunistic and value-add transactions as well as core-plus and core transactions.”
About Artemis Real Estate Partners
Artemis was co-founded in 2009 by Harmon and former Secretary of Commerce Penny Pritzker. The firm has acquired over $13.0 billion gross purchase price in more than 300 investments. Gilbert and Harmon are responsible for the firm’s operations.
Artemis Real Estate Partners is one of the largest majority women- and diverse-owned real estate investment managers in the U.S., and the first to break $9.0 billion of equity raised. Today, approximately 50% of the team identifies as women or people of color. The real estate investment manager is based in metropolitan Washington, DC with offices in New York City, Los Angeles and Atlanta. The firm makes equity and debt investments in real estate across the United States, with a focus on multifamily, industrial, office, retail, hospitality, self-storage, senior housing, and medical office. Artemis specializes in joint venture partnerships with established, diverse and emerging operating partners and direct investments. The firm has four primary business lines: our flagship value add fund series, commingled funds and separate accounts with an emerging and diverse operating partner overlay, a dedicated healthcare fund series, and a credit platform. To learn more, visit ArtemisREP.com.
For additional information:
Rachel Salerno, Investor Relations
Rich Banjo and Michael Vu, Acquisitions