Strategic Partnership Announced to Enhance U.S. Private Wealth Distribution Channel for Real Assets Investment Firm The Townsend Group
Investment firm The Townsend Group has announced plans for a strategic partnership that will enhance its U.S. private wealth distribution channel. The firm, which advises clients with $218 billion in assets, is being acquired by an investor group led by The Riverside Company and including MLC Private Equity, Ten Capital Management, and BlueRock Real Estate.
The partnership will see BlueRock and Townsend working together to boost the private wealth distribution channel of Townsend, offering global real estate and real asset investment advisory services to high-net-worth investors. BlueRock, with its experience team and retail platform, will help expand Townsend’s reach beyond its institutional investor core.
Ramin Kamfar, CEO of BlueRock, expressed excitement about the partnership, stating, “Townsend’s long-standing 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. We believe that our partnership with Townsend will allow us to develop innovative new investment solutions that will serve the growing needs of retail investors.”
Upon the closing of the transaction, Anthony Frammartino, Townsend’s president, will be named chairman and CEO. The terms of the transaction were not disclosed.
The agreement between The Riverside Company and Aon, which owns The Townsend Group, was announced earlier this week. Aon will maintain a team dedicated to serving its clients’ real estate investment programs, while collaborating with specialists like Townsend to support specific client needs.
Eric Andersen, president of Aon, expressed gratitude for the team at The Townsend Group and stated, “We remain committed to helping employers, fiduciaries, and investment officers across a broad spectrum of client needs, while we focus on further serving our clients through our leading Risk Capital and Human Capital capabilities.”
