Alterra IOS announced that its management entity has received a passive, minority investment from Almanac, the private real estate arm of Neuberger.

“Almanac’s successful track record of investing in and growing premier real estate managers, along with its permanent capital and strategic partnerships, will support Alterra’s continued expansion and the elevation of IOS as an institutional asset class,” said Leo Addimando, Managing Partner and CEO of Alterra.

Berkshire Global Advisors acted as an advisor to Alterra IOS in the transaction. Almanac’s investment underscores growing institutional investor confidence in the IOS sector, which is experiencing rapid growth driven by demand from e-commerce and infrastructure.

“Our investment in Alterra reflects our conviction in the long-term fundamentals of IOS and our strategy to partner with best-in-class managers to build durable value on behalf of our investors,” said Josh Overbay, Managing Director at Almanac.