Townsend Real Estate Alpha Fund II Raises $496 Million
CLEVELAND, Feb. 16, 2016 /PRNewswire/ -- The Townsend Group, a leading provider of global investment solutions for real estate and real assets, today announced that it has held a final close for its latest global private real estate fund. Townsend Real Estate Alpha Fund II (TREA II) raised $496 million in capital commitments from over 20 institutional investors including public and private sector pension funds, foundations, endowments and select private wealth partners.
Terry Ahern, CEO of The Townsend Group, said, "The volatility in the markets is providing us with compelling investment opportunities. We are finding investments with attractive returns, good equity multiples and the ability to structure strong downside protection. These opportunities come to us through our offices in Europe, Asia and the United States. We have already invested more than $300 million of the nearly $500 million TREA II fund. Based on the current level of quality deal flow, we expect to be raising our next fund later this year."
The Townsend Real Estate Alpha fund series is a global private real estate strategy investing primarily in direct co-investments and secondary fund interests, providing investors with a portfolio of investments diversified by property sector and geography. Since 2007, the Townsend investment platform has deployed $3.8 billion in 86 co-investment and secondary transactions with 50 real estate investment managers/operators throughout Europe, Asia and North & South America.
About The Townsend Group
The Townsend Group is a leading provider of global investment solutions for real estate, infrastructure, timber and agriculture. With a culture based upon service and success measured by investment performance, Townsend's clients include many of the world's leading institutional investors. As of September 30, 2015, Townsend had assets under management of approximately $13.8 billion1. The firm provides advisory services to clients with real estate/real asset allocations exceeding $170.0 billion, as of December 31, 2014.
1 Townsend Assets under Management is the aggregation of net asset values and unfunded commitments on a quarterly basis.
Forward-Looking Statements
Certain items in this press release may constitute forward-looking statements, which can be identified by words like "expect," "will," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; Townsend can give no assurance that their expectations will be attained. Forward-looking statements are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from actual results. Factors that could cause actual results to differ materially from Townsend's expectations include, but are not limited to, market conditions, availability of compelling investment opportunities, whether our investments will yield attractive returns or good equity multiples, our ability to structure investments with strong downside protection, our level and quality of deal flow, our ability to deploy capital and the timing and capital raising of new funds. Such forward-looking statements speak only as of the date of this press release. Townsend expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
SOURCE The Townsend Group
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