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FUNDRAISING NEWS | January 23, 2025
Tags: Pension Funds, Real Estate, New Investment
The San Antonio Fire & Police Pension Fund made a $25M allocation to Townsend’s fourth real estate fund, as disclosed in the pension’s recently released November 20, 2024, meeting minutes.
The pension board unanimously approved the investment in Townsend Real Estate Capital Solutions IV, representing a follow-on to its $10M commitment in 2018 to predecessor Fund III. San Antonio Fire & Police first hired Townsend as its real estate consultant in 2006, which began a discretionary opportunistic real estate investment portfolio for the pension in 2007. Townsend’s opportunistic portfolio and Fund III have since generated second quartile performance of 4.8% and 12% in IRR, respectively, since their inception.
The San Antonio Fire & Police pension said its total portfolio is valued at approximately $4.1B, as of September 30, 2024.
Written By: Dakota
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