Private markets manager Hamilton Lane plans to acquire 361 Capital, a boutique alternative money manager.
Terms of the deal, which is expected to close in the first quarter, were not disclosed in a news release Thursday.
The acquisition is intended to expand Hamilton Lane's capabilities in private wealth management, specifically for use in the Hamilton Lane Private Asset Fund and Global Private Asset Fund for high-net-worth investors, the news release said.
The 361 Capital team led Tom Florence, chairman and CEO and Josh Vail, president, will continue to operate from its Denver headquarters, according to the news release.
Hamilton Lane has about $574 billion in assets under management and supervision.
As of June 30, 361 Capital had about $1.1 billion in AUM.
A spokeswoman for Hamilton Lane could not immediately provide further information.
