Hamilton Lane is buying Real Asset Portfolio Management, a real asset money manager and consulting firm with about $3.8 billion in assets under management and advisement, said Kate McGann, Hamilton Lane spokeswoman, in an email.
The transaction is set to close later this year. Financial terms are not being disclosed.
Hamilton Lane plans to acquire substantially all of Real Asset Portfolio Management's assets, and the firm's entire nine-member real asset investment team — led by Steve Gruber, founder and managing member, and Brent Burnett, managing director — will join Hamilton Lane. RAPM currently invests and consults across four sectors: real estate; infrastructure; energy and minerals; and timber and agriculture. Mr. Gruber could not be reached.
"Real assets is an area of increasing importance within the private markets, and the addition of the RAPM team will allow us to thoughtfully broaden our capabilities and investment resources in order to better serve our clients," said Hamilton Lane CEO Mario Giannini in a statement.
Hamilton Lane has $342 billion in total assets under management and supervision. The size of its current real assets business could not be learned.