293 words…about a minute read  

One big thing: Aon has signed a definitive agreement for The Riverside Company to acquire The Townsend Group (Townsend). The transaction represents a successful outcome for all stakeholders as part of Aon’s portfolio management strategy, and Townsend’s prior history as standalone business will help to ensure a swift and effective transition to its new partners. Read the press release here.  

The acquisition offers Riverside a compelling opportunity to manage Townsend’s growth and expand on its market position, while we focus on further serving clients need through our Human Capital and Risk Capital capabilities. Through our global Human Capital capability, Aon is committed to helping employers, fiduciaries and investment officers across a broad spectrum of client need from investment consulting to delegated solutions. Following the close of the transaction, Aon and Riverside will have a services agreement in place to ensure seamless support from Townsend, including a sub-advisory agreement directly between Aon and Townsend.

Zoom out:  

• Townsend is a leading provider of global real estate and real asset investment advisory services. The group offers complementary asset management, advisory, and capital solutions to LPs and GPs via funds, secondaries, co-investments and direct investments. 
• The Riverside Company is a global investment firm focused on being one of the leading private capital and credit options for middle market businesses by seeking to fuel transformative growth and create lasting value. 
• Aon President, Eric Andersen, said: “We are grateful for the many contributions of this exceptional team and we know they have a positive future in partnership with Riverside. We remain committed to helping employers, fiduciaries and investment officers across a broad spectrum of client need from investment consulting to delegated solutions, while we focus on further serving client need through our leading Risk Capital and Human Capital capabilities.”