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SOURCE The Townsend Group
Townsend to Manage Custom, Multi-Manager Real Estate Portfolio Focused on Asia Pacific
CLEVELAND, June 10, 2014 /PRNewswire/ -- The Townsend Group, a leading provider of global investment management and advisory services focused exclusively on real estate and real assets, today announced it was selected by the National Pension Service of Korea ('NPS') to build and manage a custom, real estate investment portfolio with a focus on opportunities in Asia. Townsend expects to invest the $400 million commitment across a broad range of real estate opportunities executed through a variety of investment vehicles including co-investments, joint ventures, clubs, secondary fund interests and primary commingled funds.
Anthony Frammartino, Partner at The Townsend Group, said, "Townsend is grateful for our collaborative, long-term relationship with NPS and their continued confidence in our global investment platform. We are also delighted to have been awarded this specialized investment mandate within a highly competitive process. As a dynamic and evolving region, Asia offers a compelling investment opportunity to target both growth and dislocation, while leveraging the scale of our combined platforms. This program is tailored to the unique portfolio needs of NPS and will consider the entirety of Asia Pacific, ex-Korea, for investment."
The Townsend Group delivers custom real asset solutions that help institutional clients worldwide achieve their unique investment goals. The firm provides advisory services and discretionary investment management through multi-manager, separate accounts and co-investment programs. Townsend manages investment strategies that cover the risk spectrum from Core to Non-Core, can be global or regional in nature and use a variety of investment vehicles while seeking to accomplish their clients' investment objectives.
About The Townsend Group
Founded in 1983, Townsend Holdings LLC (d/b/a The Townsend Group) is a leading provider of global investment management and advisory services focused exclusively on real estate and real assets. Committed to excellence in investment management and client service, Townsend serves an institutional client base providing custom investment solutions to help meet the needs and objectives of their investment programs. Headquartered in Cleveland, Ohio, the firm has offices in San Francisco, London and Hong Kong. As of December 31, 2013, Townsend's regulatory assets under management are approximately $ 11.4 billion1.
1 As of December 31,2013, Townsend provided services on behalf of regulatory assets under management of approximately $11,391,348,511.73.Townsend's regulatory assets under management consisted of $9,140,194,291.73 in discretionary client assets and approximately $2,251,154,220.00 in non-discretionary client assets where the client's contractual arrangement provides the client with the ability to opt out of or into particular transactions, or provides other ancillary control rights over investment decision-making (a/k/a "quasi-discretionary").
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