Aon, a UK-based professional services company, has completed the acquisition of real estate investment adviser Townsend Group from Colony NorthStar.

Aon agreed to acquire Townsend for $475m in September 2017. Townsend offers global investment management and advisory services mainly focused on real estate and real assets.

Aon expects the transaction to strengthen its leadership position in real estate and real asset investments.

Aon noted that it will integrate Townsend’s solutions into its investment business.

Commenting on the deal, Aon CEO of global retirement and investment solutions Cary Grace said: “We are excited to welcome the Townsend organization into Aon and further enhance our investment solutions in areas that are of increasing importance to our clients.

“Working together, our combined teams will continue to expand our capabilities and expertise in alternative investments to create sophisticated and transparent offerings that provide our clients with objective advice and solutions.”

Following the closure of the deal, Aon’s investment organisation, including Townsend, manages more than $130bn in assets worldwide.