Fundraising - JANUARY 15, 2014

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Townsend raises $357m for opportunistic multi-manager fund

by Andrea Waitrovich

The Townsend Group has raised $357.5 million for its Townsend Real Estate Alpha Fund I, according to a filing with the SEC. The opportunistic fund launched in 2012 with a $600 million fundraising goal.

The global opportunistic fund will invest in noncore real estate through co-investments, secondary positions, recapitalizations, club deals and primary funds. Its investment focus will be CBD office, community shopping centers, hotels, industrial, multifamily, neighborhood shopping centers and senior housing in North America, South America, Europe and Asia. The fund plans to invest approximately 40 percent of its capital within North America.

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