Illinois Municipal Retirement Fund backs Artemis Real Estate fund

The $51.6 billion Illinois Municipal Retirement Fund (IMRF) has approved a $50 million commitment to Artemis Real Estate Partners Healthcare Fund II, according to an investment document from May.

Artemis Real Estate Partners works with emerging managers, joint venture operators and capital partners, according to the firm’s website. Artemis seeks to capitalize on diverse investment opportunities across a spectrum of U.S. commercial real estate.

The firm’s initial healthcare fund, Artemis Healthcare Fund, followed a core-plus strategy and closed in 2016 with $476 million in capital commitments.

Artemis has raised $5.6 billion of committed equity capital since its inception, according to the firm’s website.

As of March 31, IMRF had a 6.3 percent allocation to real estate, against a 10 percent target allocation. The real estate portfolio was valued at $3.3 billion.