Key Takeaways
- • Artemis Real Estate Partners has secured $1.4 billion in capital commitments for its latest US healthcare property strategy, comprising $1.2 billion for Artemis Real Estate Partners Healthcare Fund III and $200 million in co-investment capital.
- • Fund III targets a total capital raise of $1.5 billion and will focus on medical office, senior housing, and debt investments, with the manager having already commenced the investment process.
- • Major public pension fund investors include California State Teachers Retirement System ($300 million), Connecticut Retirement Plans and Trust Funds ($150 million initial commitment with $50 million upsize potential), San Francisco Employees Retirement System ($60 million), and Illinois Municipal Retirement Fund ($50 million).
Summary
Artemis Real Estate Partners has advanced its healthcare property fundraising initiative by securing $1.4 billion in total capital commitments for its latest commingled fund strategy focused on the US market. According to SEC filings, the capital comprises $1.2 billion directed into the core fund vehicle—Artemis Real Estate Partners Healthcare Fund III—alongside $200 million in parallel co-investment capital raised by the manager.
Fund III maintains a $1.5 billion hard cap target and will deploy capital across medical office properties, senior housing, and credit strategies. The manager has begun deploying capital into investments, signaling active portfolio construction is underway. The fundraise draws significant support from major public pension institutions, reflecting institutional confidence in the healthcare real estate thesis. California State Teachers Retirement System committed $300 million as the lead anchor investor, while Connecticut Retirement Plans and Trust Funds made an initial $150 million commitment with an agreed $50 million upsize option. San Francisco Employees Retirement System and Illinois Municipal Retirement Fund each contributed $60 million and $50 million respectively.
The fundraise occurs against a backdrop of broader challenges in real estate capital formation, with sector-wide fundraising for closed-ended commingled funds having fallen to its lowest level since 2012, underscoring the relative strength of Artemis' capital-raising performance in the healthcare niche.
Fund III maintains a $1.5 billion hard cap target and will deploy capital across medical office properties, senior housing, and credit strategies. The manager has begun deploying capital into investments, signaling active portfolio construction is underway. The fundraise draws significant support from major public pension institutions, reflecting institutional confidence in the healthcare real estate thesis. California State Teachers Retirement System committed $300 million as the lead anchor investor, while Connecticut Retirement Plans and Trust Funds made an initial $150 million commitment with an agreed $50 million upsize option. San Francisco Employees Retirement System and Illinois Municipal Retirement Fund each contributed $60 million and $50 million respectively.
The fundraise occurs against a backdrop of broader challenges in real estate capital formation, with sector-wide fundraising for closed-ended commingled funds having fallen to its lowest level since 2012, underscoring the relative strength of Artemis' capital-raising performance in the healthcare niche.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.