CLEVELAND (Nov. 26, 2018) – The Townsend Group, an Aon company and leading provider of global investment solutions for real estate and real assets, today announced that it has raised $767 million from leading U.S. and Asian investors for its Townsend Real Estate Alpha (“TREA”) global value-add real estate strategy. The capital raising began in May 2018 and is expected to continue through Q2 2019.
Terry Ahern, CEO of The Townsend Group, said, “We have built a unique investment platform that brings us competitive advantages in sourcing and underwriting. The TREA strategy provides us the opportunity to continue to achieve positive risk adjusted returns for our clients. For the first time, we opened the TREA strategy to European investors in Q3 of 2018 and see continued interest in the U.S. and Asia. We look forward to completing the remaining fund-raise for our strategy in 2019 and continuing our decade-plus track record of value-add investing.”
Since 2007, the Townsend investment platform has deployed $4.6 billion in 100 co-investments, joint ventures and secondary transactions with over 60 real estate investment managers/operators throughout Europe, Asia and North & South America.
Aon plc (NYSE:AON) Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance. Aon has five specific global solution lines: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions and Data & Analytic Services.
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.