Gem Realty
Crossover fundChicago
Also known as Gem Capital, L.P.
Investment thesis
GEM Realty Capital operates a diversified real estate investment platform spanning private-market real estate (GEM Realty Properties), publicly traded real estate securities (GEM Realty Securities), and non-controlling interests in private real asset and infrastructure companies (GEM Realty Tactical Opportunities). Combining differentiated perspective, relationships, and real-time data, the firm aims to identify and capitalize on secular trends, market inefficiencies, and price dislocations. With roughly three decades of experience across multiple economic and capital market cycles, the firm positions itself as a trustworthy steward of long-term capital, emphasizing diversity of thought, integrity, innovative thinking, collaboration, and community impact, alongside sustainability and governance considerations.
Source: firm website, verified Aug 25, 2026.
Fund performance · per public LP disclosures · 3
as of Nov 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| GEM REALTY FUND VII LPLPs: District of Columbia Retirement Board, Employees' Retirement System of Rhode Island, University of Texas Investment Management Company | 2022 | — | -2.6% | 0.97x | 0.00x |
| GEM Realty Fund VILPs: District of Columbia Retirement Board, Employees' Retirement System of Rhode Island, Andrew W. Mellon Foundation | 2017 | — | 9.0% | 1.25x | 0.76x |
| GEM REALTY FUND V LPLPs: Employees' Retirement System of Rhode Island, District of Columbia Retirement Board, University of Texas Investment Management Company | 2013 | — | 1.6% | 1.08x | 0.88x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What sectors does Gem Realty focus on?
- Gem Realty focuses on PropTech.
- Where is Gem Realty located?
- Gem Realty is headquartered in Chicago, US.
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