The Townsend Group, an alternative investment adviser, has raised $186.07 million for its third alpha fund, Townsend Real Estate Alpha Fund III, according to a filing with the SEC. Townsend Group did not comment on its fundraising efforts.
A fundraising target was not disclosed in the filing.
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.
Townsend Real Estate Alpha Fund III follows the same global, opportunistic, multi-manager strategy as its predecessor, Townsend Real Estate Alpha Fund II, which held a $496 million final close in February 2016. Townsend Real Estate Alpha Fund I launched in 2012 with a $600 million fundraising goal; the fund held a
