The Townsend Group, an alternative investment adviser based in Cleveland, has added an $120 million in capital to its Townsend Real Estate Alpha Fund III, a document filed with the SEC on Dec. 3 shows.
Backed by 167 investors, the fund has secured $556 million in total to date, a notable increase from July when it reported $435 million in commitments from 128 investors. In June 2018, Townsend Group had raised $186 million for its third alpha fund, following its launch.
The Alpha Fund series invests primarily in direct co-investments, secondary fund interests and REOCs. It seeks to provide investors with a diversified portfolio, based on property sector and geographic location, according to The Townse
