Artemis Real Estate Partners is selling a passive minority stake to alternative investment manager Investcorp’s strategic capital group, a business unit that invests in midsized alternative investment firms, an Artemis spokesman said.
The terms of the deal and the amount of the stake are not being disclosed, a joint news release said.
Artemis will remain a majority woman/minority-owned firm.
Artemis will use the capital from the sale to expand its existing business of investing in U.S. real estate debt and equity through joint ventures and direct investments. Artemis executives also plan to “significantly increase” its senior team’s commitments to current and future Artemis funds, the news release said.
Under the terms of the partnership agreement, there will be no change in Artemis’ day-to-day operations or investment process.
Artemis has more than $5 billion in assets under management. Investcorp had $37.6 billion in assets under management as of June 30.