New York State Common Retirement Fund (NYSCRF) has approved a $200m (€188.7m) commitment to the Artemis Real Estate Partners Fund IV fund, according to the pension fund.

Artemis Real Estate Partners, which disclosed in 2021 that it was seeking to raise $1.5bn for the multi-property fund, declined a request for comment.

According to sources, Fund IV, which targets value-add acquisitions in the US, is expected to close in May this year.

Investors that have committed to the fund so far include Virginia Retirement System with a $125m commitment and $100m each from New York State Teachers Retirement System and Illinois Municipal Retirement Fund

NYSCRF said it has also invested $68.1m to buy the ComRef Williamsburg Loft Portfolio, a two-building mixed-use property in New York. The deal was made through a separate account with MetLife Investment Management.

NYSCRF has also placed $15m into the Raith Real Estate Fund II fund as part of the pension fund’s emerging manager programme. Fund II is a debt and equity fund managed by Raith Capital Partners.

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