The Townsend Group has raised $1.5bn (£1.19bn) from its American, Asian and European investors for its Townsend Real Estate Alpha global real estate strategy.

The strategy will target joint ventures, co-investments, investment structure, the diversification of geography and more.

Chief executive at The Townend Group, Terry Ahem, said: “We appreciate the support of our historical investors and welcome many new investors in this endeavour. We are confident in the platform and team we have built to source specialised opportunities to drive value for our investors in a competitive and quickly evolving marketplace.”

The strategy launched in 2007 and has deployed $6.2bn globally as of December 2019.