The Riverside Co. has announced that its affiliate has signed a definitive agreement to acquire The Townsend Group from Aon.
Terms of the transaction were not disclosed.
A group of leading institutions are co-investing alongside Riverside in the transaction, including Bluerock, MLC Private Equity and Ten Capital Management, which also acted as an advisor to Riverside in the transaction.
In addition to its investment in the transaction, Bluerock, an institutional alternative asset manager with more than $18 billion in acquired and managed assets, will enter into a strategic partnership with Townsend to expand Townsend’s institutional investment capabilities to high-net-worth investors.
“Townsend’s leadership in the institutional real assets space is a natural fit with Bluerock’s pioneering role in delivering institutional-quality alternative investments to individual investors over the last 22 years,” said Ramin Kamfar, Bluerock’s CEO. “We lo