11:47 AM EDT, 04/30/2024 (MT Newswires) -- Aon (AON) has signed an agreement to sell The Townsend Group to investment firm Riverside, the companies said late Monday.

Financial terms of the deal weren't disclosed.

Riverside said a group of institutions, including Bluerock, MLC Private Equity and Ten Capital Management, are co-investing in the transaction. Bluerock will also partner with Townsend to expand the latter's investment capabilities.

The closing of the deal is subject to final regulatory approvals, Riverside said.

Townsend provides global real estate and real asset investment advisory services.

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