Artemis Real Estate Partners raised $2.2B for its fourth value-add fund, Artemis Fund IV, against an initial target of $1.5B. The oversubscribed raise makes this the company's largest-ever fund. The company's co-CEO, Deborah Harmon, attributed the record fundraising to its realized investment performance and the performance's long-term track record. - The first three funds realized over 70% of the 171 investments made and generated a net internal rate of return of 23%, higher than the targeted 14%-15%.
- More than 50% of the capital came from new investors, while 25% came from outside the U.S.
- The firm now has around $3B, including $1B from its Healthcare Fund II closed in June 2022, to invest, and the company plans to look for debt and equity investment opportunities.
|
