Artemis Real Estate Partners has raised $1bn (€970.4m) for its second US healthcare property fund.

The manager said the fundraising for Artemis Healthcare Fund II exceeded the fund’s $750m target to reach its hard cap. Artemis raised $476m in July 2017 for its first healthcare fund.

As previously reported, the New York State Common Retirement Fund issued a $200m commitment to the fund. The California State Teachers Retirement System also issued a $150m commitment to the fund and the same amount to co-invest alongside the fund which started its fundraising last year.

The San Francisco Employees’ Retirement System and the Illinois Municipal Retirement Fund also backed the fund with $60m and $50m respectively.

Last year, the Alameda County Employees Retirement Association made a $25m commitment to the core-plus healthcare fund which targets equity and debt investments in both medical offices and senior housing.

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