Investors - MAY 30, 2014

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NYSCRF commits $500m to Artemis

by Andrea Waitrovich

The $160.7 billion New York State Common Retirement Fund has made a $500 million commitment to expand its emerging manager separate account with Artemis Real Estate Partners.

The separate account started with a $300 million allocation in the fall of 2011. The additional investment to the program brings the total allocation to $800 million.  

The expanded separate account is seeking core-plus returns by making equity and debt investments of $10 million to $30 million in office, retail, industrial, multifamily, hospitality, healthcare and other property types in primary and select secondary markets across the United States. The separate account invests via a series of programmatic joint ventures with emerging managers. Emerging managers are defined as firms in business for 12 years or less, having less than $1 billion of equity under

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