Townsend has raised more than $2 billion of dedicated capital globally for its latest real estate secondaries strategy, putting the firm on a path toward its $3 billion target.
The capital raised includes discretionary parallel vehicles and mandates, in addition to co-investors. Over the past 18 months, Townsend has allocated more than $1 billion across 11 secondaries investments, representing nearly half of the capital raised to date.
The firm said it also has built a pipeline of investment opportunities anticipated to close before year-end. The portfolio has been acquired at an average entry discount of 25 percent.
Townsend’s strategy will pursue a combination of general partner (GP)-led and limited partner (LP)-led secondaries, with a focus on sectors including residential, logistics, data centers, industrial outdoor storage and medical office.
The firm said demand for secondaries and other liquidity solutions continues to grow as LPs and GPs contend
