N.Y. Pension Hires Artemis For Emerging Real Estate Mandate

Oct 7 2011 | 10:06am ET

New York's largest public pension fund has hired a Chicago private equity fund to run an emerging real estate mandate focused on women- and minority-owned firms.

Artemis Real Estate Partners has received a $300 million allocation. The firm, founded by billionaire Penny Pritzker, will manage an emerging manager of managers real estate separate account for the $146.9 billion New York State Common Retirement Fund. It is the first allocation in plan's new emerging managers real estate program.

"With the emerging manager program now in place across our asset classes, the fund has affirmed its status as an innovator in the field and show once again its commitment to enhancing diversity and opportunity while improving its bottom line," New York Comptroller Thomas DiNapoli said.


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