Barings entered into a definitive agreement to acquire Artemis Real Estate Partners, a women-founded a real estate investment firm with more than $11 billion in assets under management.
The proposed transaction is expected to close in the first quarter of 2025. Financial terms were not disclosed, said a Feb. 18 news release.
The acquisition will “strengthen Barings’ position in the U.S. real estate market and accelerate the platform’s long-term growth by combining the firms’ complementary investment capabilities and expertise.”
Based in Washington, D.C., Artemis has expertise across real estate product types, including multifamily, industrial, office, retail, hospitality, self-storage, senior housing, and medical offices, the release noted.
Artemis was founded in 2009 by Co-Chief Executive Officer Deborah Harmon and Penny Pritzker, now chairman of PSP Partners, a private investment firm,
Barings’ global real estate platform has more than $50 billion in assets under management. Barings has more than $421 billion in total AUM.
In an interview with P&I in early February, Barings’ CEO and Chair Michael Freno said the firm was “on the lookout for deals” and that it remains open to further acquisitions to build out its businesses.
Dechert LLP served as legal counsel to Barings.
