Barings Expands US Real Estate Footprint With Artemis Acquisition

Global investment manager Barings has agreed to acquire Artemis Real Estate Partners, a leading US-focused real estate investment firm with more than $11B in AUM. This move strengthens Barings’ US real estate equity platform and accelerates its long-term growth strategy.

The acquisition, expected to close in 1H25, will allow Barings to expand its real estate investment capabilities across multiple asset classes, including multifamily, industrial, office, retail, hospitality, self-storage, senior housing, and medical office properties.

Artemis’ Track Record

Founded in 2009, Artemis Real Estate Partners has built a strong reputation for investing across the risk spectrum, leveraging its network of operating partners and joint ventures to create value across diverse property types.

The firm will continue to operate under its existing leadership, ensuring continuity in investment strategy and execution. Deborah Harmon, co-founder and co-CEO of Artemis, emphasized that the partnership aligns with Artemis’ values and goals.

“Barings’ global platform and our shared commitment to aligning interests with investors makes the firm the ideal partner to build on our proven record of successful investment performance,” said Harmon. “We will create a more powerful platform for our investors as Artemis, a Barings company, preserving our culture while creating new opportunities for our team. We are deeply grateful to our investors for the past 15 years and look forward to continuing our partnership as a force multiplier for performance and purpose.”

Alex Gilbert, co-CEO of Artemis, echoed Harmon’s enthusiasm, highlighting how the partnership will enhance access to capital for Artemis’ operating partners.

“Partnership has been fundamental to Artemis since our founding, and today’s announcement represents a natural progression of our decades-long history of building successful teams together,” said Gilbert. “We are thrilled to join forces with Barings, combining our extensive relationships and their robust infrastructure to create an even stronger investment platform – one with the capabilities to meaningfully increase access to capital across the risk spectrum for our broad base of joint venture operating partners across the US.”

A Transformative Deal for Institutional Investors

Barings’ acquisition of Artemis reflects a broader industry trend of consolidation among investment management firms as companies seek to scale operations and expand their investment capabilities.

“We believe that Artemis’ team and capabilities will be transformative to our US real estate equity business, enabling us to together accelerate our growth and take advantage of the market opportunity for the benefit of our investors,” said John Ockerbloom, Barings’ Head of US & European Real Estate. “With Artemis, a Barings company, as a key component of our platform, we will further enhance our ability to seek out and unlock relative value across the risk spectrum and deliver the best outcomes for investors.”

MassMutual, Barings’ parent company, also gains new opportunities for its General Investment Account. Eric Partlan, MassMutual’s CIO, emphasized that the acquisition will provide diversified investment opportunities and strengthen long-term returns.

“We believe this strategic acquisition will not only enhance Barings’ U.S. real estate equity capabilities, but also provide MassMutual with additional investment opportunities in new, diversified assets within our General Investment Account, ultimately helping to maximize the value we deliver to our policy owners,” Partlan stated.

What’s Next?

Pending regulatory approvals, the transaction is expected to close in early 2025. Once complete, Artemis will operate as a division within Barings, maintaining its investment strategy while leveraging Barings’ global infrastructure.

This acquisition reinforces Barings’ long-term commitment to real estate equity investing, positioning the firm for continued expansion and greater capital access in the evolving real estate investment landscape.