City of Fresno Retirement Systems re-ups in Artemis Real Estate Partners Fund IV

The City of Fresno Retirement Systems (CFRS) has approved a $30 million follow-on commitment in Artemis Real Estate Partners Fund IV, pending investment due diligence and legal reviews.

CFRS is currently invested in Artemis Fund III, a spokesperson for the pension fund confirmed in an email.

Artemis Real Estate Partners Fund IV, managed by Artemis Real Estate Partners, opened in March with a $1.5 billion fundraising target. The fund will target value-add investments in property types such as apartments, office, industrial, healthcare, self-storage, hotels and retail.

CFRS has an 11 percent actual allocation to real estate, against a 14 percent target. The fund’s current assets under management for real estate is $427 million.